Bank / Credit Union

1st Security Bank acquires 7 Columbia Bank branches

November 30, 2022

1st Security Bank of Washington, a subsidiary of FS Bancorp Inc., has purchased seven branches from Columbia Banking System Inc. in Oregon. These locations have approximately $510 million in deposits and $76 million in loans, according to a press release.

Upon regulatory approval and closing, Security Bank will assume checking, savings, IRA and certificate of deposits from Columbia for the branches.

"We are excited to have the Klickitat, Lincoln, Malheur and Tillamook County employees and customers join the 1st Security Bank family," Joe Adams, CEO, 1st Security Bank, said in the release. "We believe this will be a great fit and is a natural extension of our Pacific Northwest focused retail footprint."