Overview
The Barack Ferrazzano Financial Institutions Group served as legal counsel to Heritage Financial Corporation ("Heritage") (Nasdaq: HWFA), the holding company for Heritage Bank, in their definitive merger agreement with Olympic Bancorp, Inc. ("Olympic"), the holding company for Kitsap Bank, in which Heritage will acquire Olympic in an all-stock transaction.
Under the terms of the merger agreement, Olympic shareholders will receive 45.0 shares of Heritage common stock for each share of Olympic common stock. Based on the closing price of Heritage common stock of $24.64 on September 24, 2025, the implied total deal value is approximately $176.6 million. Upon consummation, the shareholders of Olympic will own approximately 17.4% of the combined company.
Barack Ferrazzano’s legal team was led by Joseph T. Ceithaml, co-chair of the Financial Institutions Group, and associate Zoe Xiuha Uvin. Executive compensation and benefit matters were handled by partners Andrew K. Strimaitis and Donald L. Norman, Jr. along with associate Alex Freund. Partner Corwin J. Carr handled employment matters. Tax matters were handled by partners Michael J. Towne and Megan E. Toal.
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