Sound Community Bank in Seattle has acquired three branches on the Olympic Peninsula from Columbia Bank in Tacoma, Wash.
The $445 million-asset Sound paid a deposit premium of 2.35%, or approximately $520,000.
"The acquisition of these three Columbia Bank branches helps us expand our market share and our community impact on the peninsula," Laurie Steward, Sounds' president and chief executive, said in a news release Tuesday.
Sound also announced plans this fall to consolidate two of the branches, in Port Angeles and Sequim, with nearby locations.
Columbia Bank has $7.2 billion in assets and operates more than 140 branches in Oregon and Washington.