Dow Jones

EVERETT, Wash. - Frontier Financial Corp. completed its acquisition of Liberty Bay Financial Corp., Poulsbo, Wash.

In a press release Friday, Frontier Financial said the deal is worth $40 million based on the market price of Frontier stock at closing. Frontier accounted for the transaction as a pooling of interests.

Frontier Financial is the parent company of Frontier Bank. With the acquisition of Liberty Bay, it has total assets of about $1.6 billion.

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