MINNEAPOLIS -- Metropolitan Financial Corp. said it has completed the acquisition of Western Financial Corp., Overland Park, Kan.
According to the merger agreement last year, Western shareholders could choose to receive $10 in cash or $10 in Metropolitan common stock for each share they own.
Metropolitan paid $5.1 million in cash and issued 940,000 shares to complete the transaction.
Western's subsidiary, the $645 million-asset Columbia Savings Association, merged with Metropolitan's flagship, Metropolitan Federal Bank of N.D.
In April, Metropolitan signed a definitive agreement to acquire $250 million-asset Eureka Savings Bank of Eureka, Kan.