MUFG Union Bank will close 20 branches of the former Frontier Bank in Washington state.
The New York company will close the offices in February and March, a company spokesman said. Union Bank is closing the branches as customers shift more transactions online and to mobile banking applications.
All the branches to be closed are located in the Puget Sound area. Union Bank, the U.S. banking unit of Tokyo-based Mitsubishi UFJ Financial Group, will continue to operate 24 branches in Washington state after the closings. The closings were first reported by the Tacoma News Tribune.
The $111 billion-asset Union Bank acquired the failed Frontier Bank in April 2010 through a loss-share agreement with the Federal Deposit Insurance Corp. Frontier, which was headquartered in Everett, Wash., had $3.5 billion of assets at the time of its failure.