U.S. Bancorp said it completed its acquisition of Sun Capital Bancorp, St. George, Utah, on Dec. 31.
The agreement, announced Sept. 25, brought U.S. Bancorp's presence in Utah to 29 branches, with total assets of $900 million.
"Sun Capital gives us presence in Washington County, Utah, the second- fastest-growing county in the nation," said Gerry B. Cameron, chairman and chief executive of U.S. Bancorp.
Under the deal's terms, Sun Capital's three branches are to be consolidated into U.S. Bank of Utah this spring. Officers of Sun Capital will continue to hold management posts in the organization, Mr. Cameron said.
Sun Capital was a $70 million-asset financial services company with offices in St. George and Hurricane, Utah, and a lending office in Mesquite, Nev.
U.S. Bancorp, with $33 billion of assets, has a branch network of 600 offices in Oregon, Washington, Idaho, Utah, and Northern California.