Interwest Bancorp is continuing its foray into commercial banking with a deal to acquire Puget Sound Bancorp.

Interwest would pay about $14.7 million to shareholders of Puget Sound, the Port Orchard, Wash.-based holding company with three branches in Kitsap County. That's equal to about three times book value, said Duane R. Guggenmos, president and chief executive officer at Puget Sound.

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