Banner Bank in Walla Walla, Wash., has entered into a business partnership with wealth management firm Coldstream Capital Management in Bellevue, Wash.
The $4.4 billion-asset bank will refer high-net-worth clients to Coldstream for advisory services, according to the companies' joint Tuesday press release.
"Coldstream will be devoted to serving Banner's clients with the same attention to their individual needs and aspirations as we devote to building long-lasting client relationships," Banner Bank President and Chief Executive Mark Grescovich said in the release.
Banner, a subsidiary of Banner Corp. (BANR), has 85 branches in Washington, Oregon and Idaho. The company agreed in February to pick up six branches from Sterling Financial (STSA) in advance of the Spokane, Wash., company's sale to Umpqua Holdings (UMPQ) in Portland, Ore.
Banner's plan to pay $197 million for Home Federal (HOME) in Nampa, Idaho, fell through in October when it was outbid by Cascade Bancorp (CACB) in Bend, Ore.