Frontier Financial Corp., in a move to strengthen its presence in western Washington, on Wednesday agreed to acquire Washington Banking Co. for $191.1 million, or $21.40 a share.
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Frontier Financial stock closed at $23.90.
The deal, which is expected to close in the first quarter, should added to 2008 earnings per share, the company said.
Frontier also said its merger with the Bank of Salem is anticipated to close in the fourth quarter.
Following both deals, Frontier's total assets will be about $4.6 billion.
