Leadership Voices on the Transaction
Heritage President and CEO Bryan McDonald praised Kitsap’s deposit franchise, calling it “exceptionally high-quality” and “low-cost.” He added that the union will create “a more robust banking platform for communities across the Puget Sound region.”
Olympic and Kitsap’s CEO Steve Politakis echoed the sentiment, noting: “This combination provides the scale and capabilities of a larger bank while preserving the high-touch community bank approach our customers value.”
Advisers Behind the Deal
Heritage turned to Barack Ferrazzano Kirschbaum & Nagelberg LLP for legal counsel and DA Davidson & Co. as financial adviser. Olympic was advised by Otteson Shapiro LLP and financial adviser Piper Sandler & Co.
The deal underscores a broader trend of consolidation in regional banking, with community lenders joining forces to weather industry headwinds and strengthen competitiveness in a rapidly evolving financial market.
