Heritage Bank set to expand into Boise with new branch
Heritage Bank has been doing business in Washington and Oregon, and now the Olympia-grown bank is headed east with plans to open its first branch in Idaho, according to its federal regulator.
The bank has applied to the Federal Deposit Insurance Corp. to open a branch at 999 W. Main St., Boise, in the heart of the city’s downtown.
Over the years, the bank has grown up and down the I-5 corridor through mergers and acquisitions, said Jeff Deuel, president and chief executive of Heritage Financial, parent company to the bank.
Now, with less activity in mergers and acquisitions, Idaho is a logical move for the bank, he said. It’s still in the Pacific Northwest and it’s a similar business environment.
They also found the right people to open that market for them, Deuel said. Two people are working out of temporary space before they open a full-service branch, he said.
Heritage Bank already has branches throughout Western Washington and in the Yakima area, as well as the Portland area and Eugene, Oregon, Deuel said.
Will Heritage Bank head to California? Not yet, Deuel said.
Earlier this month, Heritage Bank applied to the FDIC to sell and transfer assets, deposits and other liabilities of its branch in Ellensburg to Washington State Employees Credit Union.
This story was originally published December 2, 2022 at 5:30 AM.
