Washington Federal (WAFD) in Seattle reported substantial deposit runoff tied to its purchase of 51 Bank of America (BAC) branches.

The $14.4 billion-asset company said Tuesday that the deposit count at the branches fell $500 million between the deal's July 2013 announcement and completion during the fourth quarter. Washington Federal, which ended up with about $1.3 billion in deposits, said it had added about $4 million in deposits since closing the acquisition.

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