Gesa Credit Union Acquires Willamette Valley Bank

Gesa Credit Union has announced its agreement to acquire Willamette Valley Bank, a Salem, Oregon-based community bank. This strategic move marks Gesa Credit Union’s initial expansion into the Oregon market, pending regulatory approval. The acquisition process is expected to conclude in the first half of 2027.

Under the terms of the deal, Gesa will absorb Willamette Valley Bank and its parent company, Oregon Bancorp Inc. Following the acquisition, Oregon Bancorp Inc. will dissolve, with stockholders receiving an estimated payout between $43 and $45 per share. Willamette Valley Bank currently operates four branches across Linn and Marion counties in Oregon, along with a loan office in the Portland area—all of which are slated to continue operations with existing staff post-acquisition. Customers of Willamette Valley Bank will transition to become member-owners of Gesa, aligning with the credit union's business model.

The acquisition serves a dual purpose for Gesa Credit Union: expanding its footprint beyond Washington and into Oregon, and enhancing its portfolio of products and services. According to Ryan Dempster, president and CEO of Willamette Valley Bank, this union will capitalize on shared values and community-focused goals, providing a broader array of resources and offerings to customers while upholding longstanding community commitments.

This initiative follows Gesa's recent pattern of growth, exemplified by prior acquisitions, including the 2025 purchase of Centralia-based Security State Bank, and an expansion with a new branch opening in Vancouver, Washington earlier this year. The move underscores the competitive landscape of regional banks as they seek to expand scale and geographic reach.

As the transaction progresses toward a 2027 completion, it awaits regulatory approvals. Both entities will continue to operate independently until the deal's closure, at which point integration plans will fully commence. The acquisition, if finalized, could set a precedent for further consolidation within the community banking sector, suggesting an ongoing trend towards increased regional bank consolidation.