Glendale Federal Bank agreed Wednesday to sell its Seattle-based University Savings Bank unit to First Interstate Bancorp for $190.4 million, plus whatever University earns between now and the deal's expected close in early 1995.

Glendale Federal, with $17.3 billion in assets, will get another $9 million to $12 million on top of the agreed upon purchase price, to cover the next several quarters of University's earnings.

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