| Frontier Financial Corp. or Everett has completed the deal to merge with Poulsbo-based Liberty Bay Financial Corp., which is the holding company for North Sound Bank. North Sound has eight offices with assets of $180 million, loans of $145 million and deposits of $160 million.
North Sound will continue to operate under that name until Sept. 15.
The merger brings Frontier’s total assets to $1.6 billion and gives it a total of 34 branches in King, Kitsap, Snohomish, Pierce, Skagit, Clallam, Jefferson and Whatcom counties.
Frontier also declared its third dividend of the year and paid of $.11 per share on Aug. 14 to shareholders of record as of July 31. This is the third dividend paid this year, and is a 10 percent increase over Q2. It represents a 64 percent annualized increase over the dividends paid in 1999. |
