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Pacific Continental-Foundation Bancorp deal secures regulatory approval

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Pacific Continental-Foundation Bancorp deal secures regulatory approval

The FDIC andOregon State Department of Consumer and Business Services approved the pending between Eugene, Ore.-basedPacific Continental Corp.and Bellevue, Wash.-based FoundationBancorp Inc.

The is set to close duringthe third quarter.

In a July 22earnings release, Foundation Bancorp reported second-quarter net income availableto common shareholders of $508,000 or 15 cents per diluted share, compared to $490,000or 15 cents per share for the linked quarter, and a loss of $1.7 million for thesame period a year earlier.