Prime Pacific Bank

Prime Pacific Bank, N.A. was a community bank headquartered in Lynnwood, Washington, which was held by its parent company, Prime Pacific Financial Services, Inc. The bank provided various financial services through its branches in Lynnwood, Kenmore, and Mill Creek, Washington. Its operations were focused on serving the local community's banking needs. It offered standard deposit and loan products typical of a community bank.

In a significant development for the institution, Cascade Bancorp, the holding company for Bank of the Cascades, announced the completion of its acquisition of Prime Pacific Financial Services, Inc. on August 2, 2016. At the time of the acquisition, Prime Pacific had approximately $122.9 million in assets, $100.7 million in net loans, and $101.3 million in total deposits. This strategic move allowed Bank of the Cascades to expand its presence into new markets within Washington state. Following the acquisition, Prime Pacific Bank's accounts and systems were converted to those of Bank of the Cascades.

Further consolidation in the banking sector has occurred since. The acquiring entity, Cascade Bancorp, and its subsidiary Bank of the Cascades, have since become part of a larger banking organization. As of early 2025, Pacific Premier Bancorp, Inc., another major player in the Western U.S., announced a definitive merger agreement with Columbia Banking System, Inc., the parent company of Umpqua Bank. This merger, valued at approximately $2.0 billion, is expected to create a combined company with around $70 billion in assets, significantly altering the banking landscape in the region.

Keywords: Prime Pacific Bank, Prime Pacific Financial Services, Cascade Bancorp, Bank of the Cascades, bank acquisition, Lynnwood banking, Kenmore banking, Mill Creek banking, community bank Washington, Pacific Northwest banking, bank merger, Cascade Bancorp acquisition, Umpqua Bank, Columbia Banking System, Pacific Premier Bancorp, regional banking consolidation, Washington state banks, financial services