Interbancorp, founded in 1990, is a commercial bank that has twobranches, one operating as the Valley Community Bank in Duvall, theother as Kirkland Bank of Commerce in Kirkland. The bank holdingcompany has $75 million in assets and has received regulatorapproval to open a third branch in Totem Lake.
The acquisition, which is the seventh merger for Frontier, willincrease Frontier's total assets to more than $1.7 billion.Frontier will have approximately 525 employees and 36 brancheslocated throughout Western Washington when the acquisition iscompleted. The deal is expected to close early next year.
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