sell its branch in Minnesota's Mall of America to an undisclosed buyer.

The Bloomington, Minn., branch is known as iBank and has $16 million of deposits.

Bank Plus said the buyer, a private California corporation, plans to sell the branch to a bank it acquires or forms. The buyer will also own the domain name of Bank Plus' partially completed Web site, iBank.com.

The transaction is expected to close by the first quarter.

Bank Plus has $4.3 billion of assets and 36 branches in Southern California.

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