SALT LAKE CITY -- First Security Bank of Utah said federal regulators had approved its purchase of five branches of First Interstate Bank of Utah.
The First Security Corp. unit said it expected to complete the transaction around Sept. 30.
The five First Interstate offices -- in Beaver, Milford, Roosevelt, Tooele, and Vernal -- have $55 million in 12,000 deposit accounts and will increase First Security's Utah network to 113 offices.
The acquiring bank is a unit of First Interstate Bancorp, Los Angeles.
First Security also said it completed a definitive agreement to acquire Dixie State Bank, owned by First Bankshares, with five Utah offices and $75 million in assets. Dixie's offices -- in St. George, Escalante, Hurricane, and Parowan -- will become branches of First Security.
