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.

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.