Interwest Bancorp said last week that it has an agreement to buy Kittitas Valley Bancorp, Ellensburg, Wash., for about $13 million.

Oak Harbor, Wash.-based Interwest, with $2.1 billion of assets, would pay Kittitas shareholders $72 cash or 1.714 share for each share of Kittitas stock. The deal, expected to close in the fourth quarter, is for about 3.2 times Kittitas' book value.

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