First Omni of Delaware Buys Far West's Loans

NEW YORK - First Omni Bank, Millsboro, Del., has acquired $100 million of credit card loans from Far West Federal Bank, Portland, Ore., for an undisclosed price.

As a result of the transaction, First Omni's card portfolio includes $725 million inloans and 825,000 cardholders. First Omni is a subsidiary of First Maryland Bancorp., Baltimore.

The Far West portfolio consists of MasterCard and Visa cards issued to consumers in Oregon and Washington.

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