Pacific Northwest Bancorp issued 1,749,882 shares of PNWB stock and paid $25,820,595 in cash for all outstanding Bank of the Northwest shares. The per-share merger consideration to be paid to Northwest shareholders is $21.08. This per share merger consideration is based on a market value of $24.79 per share for PNWB stock, which was the average of the closing prices for PNWB stock for the 10 consecutive trading days ending Nov. 8.

Northwest shareholders had the option to elect to receive PNWB common stock, cash or a combination of both. Additional information can be found at www.pnwbank.com.

Each Bank of the Northwest will be renamed Pacific Northwest Bank after the completion of the system conversion, which is planned for December 9.