The Justice Department agreed Friday not to block U.S. Bancorp's acquisition of Northwest Bancshares, after the banks agreed to divest a branch in Clark County, Washington.

"This divestiture is important because it ensures that local customers will continue to have competitively priced banking services," said Joel I. Klein, assistant attorney general for antitrust.

U.S. Bancorp, based in Minneapolis, has $73 billion of assets. Northwest Bancshares is based in Vancouver, Wash., and has $389 million of assets.

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