Banner had proposed to purchase all of the issued and outstanding shares of Idaho Banking through a bidding process in
Under terms of the original agreement, consummation of the acquisition was subject to the
"While we are disappointed with the outcome of the bidding process and the termination of the transaction, we remain enthusiastic about the opportunities in the
and CEO, in a prepared statement. "We have been and will continue to be a disciplined buyer in evaluating opportunities to expand our franchise. Unfortunately, the bidding process for Idaho Banking resulted in a price that exceeded the economic benefit to Banner. We will continue to seek transactions that provide a fair value with an upside potential to our shareholders while at the same time executing on our successful client acquisition strategies which have produced significant growth in recent periods."
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