Home Savings of America said it has received approval from the Office of Thrift Supervision to acquire 61 divested branches of First Interstate Bancorp from Wells Fargo & Co.

The transaction, priced at $206 million, is a premium of 8.11% on the 61 branches' $2.5 billion in deposits. It is expected to close on Sept. 20.

According to Home Savings, the branches have approximately 70% of the deposits in San Diego, Sacramento, Kern, Riverside, and Ventura counties.

Home Savings of America, which announced the definitive agreement on March 28, is the principal subsidiary of H.F. Ahmanson & Co. The 61 First Interstate branches purchased are in 21 California counties.

Home Savings of America has $49.5 billion in assets and more than $33 billion in deposits.

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