By next year, Viking Bank will no longer be a locally-owned bank.
At a special meeting last week held by Viking Financial Services Corporation, shareholders approved the merger and acquisition by Spokane-based AmericanWest Bank.
“Viking and AmericanWest share similar cultures and a relationship-oriented approach to business-focused community banking. We are excited about the positive impact we can make in the communities we serve through this merger, and look forward to receiving the necessary regulatory approvals to close the transaction,” said Rich Mulcahy, Interim CEO of Viking Bank.
The $7.2 million transaction is expected to close before the end of the year and is subject to customary closing conditions including the approval of regulatory agencies.
Once the acquisition is complete, Viking Bank will change its name to AmericanWest Bank. Viking Bank owns seven branches in the Puget Sound area, including one in Ballard (2227 NW 57th St).
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