SALEM, Ore. -- First Security Bank of Oregon said it has signed a letter of intent to buy Benton County Bank of Corvallis in a stock swap. The amount of stock involved was not disclosed.

Benton County Bank, with assets of $32.6 million and deposits of $29.2 million, would add its two offices to the 10-branch network of Salem-based First Security. The latter is a subsidiary of First Security Corp., Salt Lake City, which has $7.3 billion in assets and 203 offices in Utah, Idaho, Oregon, and Wyoming.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.