お知らせ • Feb 26
FS Bancorp, Inc. (NasdaqCM:FSBW) signed of a definitive merger agreement and plan of merger to acquire Pacific West Bancorp (OTCPK:PWBK) for $35.2 million. FS Bancorp, Inc. (NasdaqCM:FSBW) signed of a definitive merger agreement and plan of merger to acquire Pacific West Bancorp (OTCPK:PWBK) for $35.2 million on February 25, 2026. Under terms of the agreement, the aggregate consideration will consist of 0.43 million shares of FS Bancorp common stock and $16.8 million in cash. Pacific West shareholders will have the right to elect shares of FS Bancorp common stock or cash, subject to proration as provided in the agreement. Upon completion of the merger, Pacific West shareholders would hold, in aggregate, approximately 5.4% of FS Bancorp’s outstanding common stock.
The boards of directors of FS Bancorp and Pacific West have unanimously approved the proposed merger. The transaction is subject to customary closing considerations, including obtaining approval by Pacific West’s shareholders and bank regulatory authorities. The expected completion of the transaction is in the third quarter of 2026. The transaction is expected to be immediately accretive to FS Bancorp’s earnings per share, with projected 2027 EPS accretion of 7.4%, and dilutive to FS Bancorp’s tangible book value with projected TBV dilution at close of 2.2% and an earnback period of approximately 2.4 years.
Raymond James & Associates, Inc. acted as financial advisor and Buchalter, A Professional Corporation acted as legal advisor for Pacific West Bancorp. D.A. Davidson & Co. acted as financial advisor and Breyer & Associates acted as legal advisor for FS Bancorp, Inc. お知らせ • May 06
Pacific West Bancorp Announces Promotion of Jason Wessling as President, as of June 1, 2024 Pacific West Bancorp announced the promotion of Jason Wessling, CPA, to the role of president of the company, as of June 1, 2024. Mr. Wessling has been an integral part of the Pacific West Bank's leadership team for the past five years, serving most recently as President and chief financial officer. お知らせ • Aug 18
Pacific West Bank Announces Lisa Fajardo-Faust as Chief Deposit Officer Pacific West Bank announced the promotion of Lisa Fajardo-Faust to Chief Deposit Officer of Pacific West Bank. Lisa leads the Bank's deposit growth strategy, as a member of the Bank's Executive Team. Ms. Faust attributes the Bank's rapid deposit growth to her team and the acceptance of Pacific West Bank as the bank of choice for the greater Portland business and non-profit communities. Lisa demonstrates her commitment to the community with active participation in various non-profit organizations including Board Chair of Friends of the Children Portland, Board Treasurer for Clackamas Community College Foundation, Chair of Oregon Bankers Association BIPOC Task Force, Board Member for the Oregon Bankers Association Education Foundation, and Advisory Board Member for Quest Center for Integrative Health. お知らせ • Aug 12
Pacific West Bank Appoints Jason Wessling as Its Next President Pacific West Bank has named its Chief Financial Officer Jason Wessling as its next president. Wessling will stay in the CFO role and also join Pacific West's board of directors, according to a news release this week. Pacific West's announcement cited Wessling's role in its asset growth from $90 million in 2018, when he joined the bank, to $300 million in July. The Portland Business Journal named Wessling as its CFO of the year in 2021. Before joining Pacific West Bank, he was CFO at Premier Community Bank and a CPA with Moss Adams. He succeeds former President and Chief Operating Officer Bob Harding, who took a job as regional managing director for First Republic Bank. お知らせ • Jul 08
Pacific West Bank Announces New Board Member Erin Hubert Pacific West Bank announced Erin Hubert as a new member of the Board of Directors of Pacific West Bank. The announcement is in line with the Bank's mission to service Portland's business community by providing premier banking services led by local leaders. Erin Hubert currently holds the role of Chief of the Business Services Division for Multnomah County Sheriff's Office. As a life-long Oregonian, Erin is well-connected in the Portland community. She was previously Chief Executive Officer for Boys and Girls Club of Portland and prior to that, she was Chief Operating Officer for the Portland Trailblazers. She has served on numerous boards, including Oregon Health & Sciences University, Oregon Partnership/Lines for Life, Citizens Crime Commission, Boys and Girls Club of Portland, and Portland State University Advisory Board. Hubert holds a B.S. in business administration from Portland State University. She also maintains volunteer activities in the Portland area. お知らせ • Jun 30
Pacific West Bank Appoints Terri Sorensen as New Member of the Board of Directors Pacific West Bank announced Terri Sorensen as a new member of the Board of Directors of company. The announcement is part of the Bank's strategy to grow in the Portland market. Terri Sorensen is Chief Executive Officer of Friends of the Children, a national nonprofit headquartered in Portland, OR. Sorensen was selected as one of the first leaders for the Business Journal'sLeadership Trust. She was also selected for Results for America's Moneyball for Government Nonprofit All-Star Team and the Leap of Reason Ambassadors Community. Deeply rooted in the Portland community, she has served on numerous boards of directors, including Oregon Mentors and Social Venture Partners. In 2012, she received the Orchid Award for the 25 Most Influential Women in Business by the Portland Business Journal. She is also involved with National Charity League-Oregon Rose Chapter. Sorensen holds a B.S. in accountancy from the School of Business and Public Administration at the University of Missouri—Columbia and was previously a Certified Public Accountant with the OregonBoard of Accountancy.