BELLINGHAM, Wash. - Horizon Bank said its board has unanimously approved a plan to form a holding company with Horizon Bank as the principal subsidiary.

Under the plan, the existing stockholders of the bank will exchange their shares of Horizon common stock for an equal number of shares of the new holding company, which will own all of the outstanding shares of Horizon Bank.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.