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West Side bank to merge into AmericanWest

The holding company for AmericanWest Bank has agreed to purchase Bank of the Northwest, which operates four branches in the Puget Sound area.

The $17 million transaction is expected to close during the third quarter.

The Bellevue, Everett, Tacoma and Issaquah offices of Bank of the Northwest will be relabeled AmericanWest , Chief Executive Officer Scott Kisting said.

Kisting is also CEO of Starbucks Bancshares Inc., which acquired Spokane-based AmericanWest in December. Starbucks, which also owns a small bank in Minnesota, injected $185 million in new capital into AmericanWest.

Starbucks has an additional $500 million, and officers have said repeatedly they expect to build on the 58-branch AmericanWest network.

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Bert Caldwell
Bert Caldwell oversees production of the opinion pages, including writing editorials, and editing and selecting letters, columns and cartoons.