Gesa Credit Union has entered an agreement to acquire a Salem, Oregon-based community bank. If approved, the acquisition would establish Gesa’s first Oregon branches.
The Richland-based credit union plans to acquire Willamette Valley Bank in the first half of 2027. Following the transaction, both Willamette Valley Bank and its parent company, Oregon Bancorp Inc., would dissolve and distribute remaining assets to Oregon Bancorp Inc.’s stockholders, who would receive an estimated $43 to $45 per share.
Willamette Valley Bank has four branches in Linn and Marion counties in Oregon and a loan office in the Portland area. After the acquisition is completed, all will stay open and remain staffed by the same teams, while those who bank at those locations would become member-owners of Gesa.
These branches would be Gesa’s first in Oregon since the credit union was founded in…
