Heritage Financial Completes Acquisition Of Valley Community Bancshares

(RTTNews) - Heritage Financial Corp. (HFWA), the parent company of Heritage Bank, said Monday that it has completed its acquisition of Valley Community Bancshares, Inc. and its subsidiary, Valley Bank, of Puyallup, Washington.

As per the terms of the deal announced in March, Valley shareholders are receiving $19.50 in cash, without interest, and 1.3611 shares of Heritage common stock per share.

As a result of the merger, Heritage will expand its existing footprint in the Puget Sound region and have about $1.7 billion in assets and 43 branches. David Brown, President and Chief Executive Officer of Valley, will be appointed to serve on Heritage's and Heritage Bank's Boards of Directors, effective October 1.