U.S. Bancorp announced Friday it has a deal to acquire Northwest Bancshares, Vancouver, Wash., for an undisclosed amount. The merger is expected to close in the third quarter.
The acquisition of $390 million-asset Northwest Bancshares is consistent with U.S. Bancorp's strategy to reach the No. 1 or No. 2 position in each of its markets. Upon completing the deal, U.S. Bancorp would be the top commercial banking company in fast-growing Clark County.