COLVILLE, Wash. — Banner Bank has reached an agreement to sell the branch in Kootenai County and the three branches in Stevens County to the Spokane Teachers Credit Union (STCU).
The four branch property locations include Chewelah, Colville, Kettle Falls, and one in Hayden.
According to the STCU press release, Banner clients with deposit accounts at those branches would become STCU members.
The acquisition of the Banner brand locations will help offer better service to the Stevens County communities and existing members. It will also help the growth of Kootenai County.
The branch is waiting for approval from regulatory agencies to start the branch's transition, with operations under STCU expected to start on June 24.
“Once approval is granted, we will make this conversion as seamless as possible for Banner Bank clients,” Ezra Eckhardt, STCU president and CEO said.
Eckhardt said that the STCU has over 3,000 existing members in Stevens County, where the three Washington branches are located.
The Hayden branch would enhance STCU’s service to residents of rapidly growing Kootenai County, where STCU currently has five existing branch locations.
“While members increasingly turn to digital tools like the STCU mobile app for everyday transactions, a face-to-face visit remains foundational to the STCU experience,” Eckhardt noted.
If the agreement with Banner is approved, STCU would grow to 40 branch locations in Eastern Washington, Tri-Cities, the Columbia Basin and North Idaho.
STCU will keep all current Banner employees at the new locations, and employees at the four branches would be offered positions at STCU, according to the press release.