BOISE, Idaho - West One Bancorp said it had received approval from the Federal Deposit Insurance Corp. to purchase 32 Security Pacific Bank Washington branches, six Security Pacific Savings Bank branches, and certain other Security Pacific business units in Washington state.
West One will take over about $1.3 billion in deposit liabilities and some $800 million in loans from Security Pacific, which is making the divestitures following its merger into BankAmerica Corp.
West One expects to complete the acquisition during the third quarter.
