Lewis & Clark Bank (OTCPK:LWCL) entered into a definitive agreement to acquire Clatsop Community Bank (OTCPK:CLAT) for $13.7 million on January 31, 2019. Lewis & Clark Bank will pay 0.3040 Lewis & Clark shares and $2.89 in cash in exchange for each share of Clatsop stock. Three board members from the Clatsop board will join nine-member Board of Directors for Lewis & Clark Bank as a result of the transaction. Jeff Sumpter, President & Chief Executive Officer of Lewis & Clark, will continue in his role as President and Chief Executive Officer of Lewis & Clark and Joe Schulte, President and Chief Executive Officer of Clatsop, will join Lewis & Clark as Market President. The transaction is subject to customary regulatory approval and approval by the shareholders of both Lewis & Clark and Clatsop. The transaction has been unanimously approved by the Lewis & Clark Board of Directors and Clatsop Board of Directors. The transaction is expected to close in the middle of 2019. Adam Keefer, Crockett Harper and Robert Bender of Sandler O'Neill + Partners, L.P. acted as financial advisors and fairness opinion providers whereas Steve Klein of Miller Nash Graham & Dunn LLP acted as legal advisor to Lewis & Clark. RP Financial, LC. acted as financial advisor and fairness opinion provider while Lane Powell PC acted as legal advisor to Clatsop Community Bank. Lewis & Clark Bank (OTCPK:LWCL) completed the acquisition of Clatsop Community Bank (OTCPK:CLAT) on May 13, 2019. Clatsop Community Bank was renamed to Seaside Branch and became a branch of Lewis & Clark Bank.