Great Western Bank, Beverly Hills, Calif., has signed a letter of intent to swap its 14 thrift branches in Washington State for 10 Southern California branches of Seattle-based Pacific First Bank.

Great Western, a unit of Great Western Financial Corp., would acquire about $445 million in deposits, and Pacific First would get some $385 million in deposits. Neither party would pay a premium, and no loans would be exchanged, a Great Western spokesman said.

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