Heritage Financial to acquire Olympic Bancorp

Heritage Financial (HFWA), the holding company for Heritage Bank, and Olympic Bancorp, the holding company for Kitsap Bank, “jointly announced the signing of a definitive agreement under which Heritage will acquire Olympic in an all-stock transaction. Kitsap Bank, established in 1908, is a privately owned community bank headquartered in Port Orchard with 17 banking offices and $1.7 billion in total assets, $941.6 million in total loans and $1.4 billion in total deposits as of June 30, 2025. On a combined basis following the transaction, Heritage will have total assets of approximately $8.8 billion, total loans of approximately $5.7 billion and total deposits of approximately $7.2 billion.”