Gesa Credit Union acquires Willamette Valley Bank
Subject to Regulatory Approval
Richland, Washington - July 21, 2026 - Richland, Washington-based Gesa CU agreed to acquire substantially all of the assets and assume substantially all of the liabilities of Salem, Oregon-based Willamette Valley Bank, a subsidiary of Oregon Bancorp Inc., in an all-cash transaction. The acquisition is expected to be completed in the first half of 2027, subject to regulatory and Oregon Bancorp shareholders' approvals.
Willamette Valley Bank has about $465 million in assets and $358 million in deposits. Gesa CU has approximately $6.8 billion in assets and over 322,000 members across the Pacific Northwest, according to a July 21 news release.
Upon completion of the deal, Willamette Valley Bank and Oregon Bancorp will be dissolved, and the remaining assets will be distributed to Oregon Bancorp's shareholders, who will receive an estimated $43.00 to $45.00 per share. The acquisition will provide Gesa CU with its first retail branches in Oregon. Willamette Valley Bank's four branches in Linn and Marion counties, along with its loan office in Washington County within the Portland metropolitan area, will continue operating with the same staff. Customers banking at these sites will become member-owners of Gesa CU. Until the transaction closes, Gesa CU and Willamette Valley Bank will continue to operate independently.
Luse Gorman PC acted as legal counsel to Gesa CU, and McQueen Financial Advisors served as the credit union's financial adviser. Alston & Bird LLP acted as legal counsel, and Performance Trust Capital Partners LLC served as financial adviser to Oregon Bancorp and Willamette Valley Bank.
About Willamette Valley Bank
Willamette Valley Bank is an Oregon-chartered community bank headquartered in Salem, Oregon, with approximately $465 million in assets and $358 million in deposits, four branches in Linn and Marion counties, and a loan office in Washington County. Founded in 2000, the bank serves businesses, families, and communities across the Willamette Valley. The bank was ranked first on American Banker’s Top 200 list of publicly traded community banks and thrifts under $2 billion in assets for four consecutive years, the 2019 through 2022 lists. Willamette Valley Bank is a wholly owned subsidiary of Oregon Bancorp, Inc., a publicly traded holding company.
About Gesa Credit Union
Gesa Credit Union is one of Washington’s largest credit unions, with approximately $6.8 billion in assets and over 322,000 members across the Pacific Northwest. Founded in 1953 and headquartered in Richland, Washington, Gesa is a full-service financial institution offering consumer, mortgage, business, and government-guaranteed lending products and services, and is the #1 SBA credit union lender in Washington for three consecutive years. Gesa also operates student-run branches at Washington State University and high schools across Washington State. The Gesa Community Foundation, established in 2022, supports Gesa’s ongoing commitment to local communities through grants, youth scholarships, and free financial education resources. For more information, visit gesa.com.
About McQueen Financial Advisors
McQueen Financial is a nationwide financial advisory firm serving financial institutions since 1999. McQueen has advised on ~25% of all Credit Union / Credit Union Mergers nationwide, annually.
Transaction Leads
Dan Martin
Director of Transaction Advisory & Valuation
Christian Aberlade
Vice President
Jeremiah Vroman
Senior Analyst