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May 17, 2022
Bank of Idaho (BOID) and HomeStreet Bank have executed a definitive agreement under which Bank of Idaho will acquire from HomeStreet Bank an Eastern Washington branch network, including the branches' lending business and employees. Bank of Idaho acquired five branches in Spokane, Kennewick, Dayton, Yakima, and Sunnyside. It is anticipated that the transaction will close on or before Aug. 1, 2022 subject to customary regulatory application processes and approvals. MJC Partners served as the exclusive financial advisor to BOID. Stinson LLP served as counsel to Bank of Idaho Holding Co., the holding company for Bank of Idaho. Bank of Idaho focuses on small businesses and is a leader in SBA lending. HomeStreet Bank is headquartered in Seattle, serving consumers and businesses in the Western United States and Hawaii.