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Utah banking company purchases seven Banner Bank branches
IBR Staff//October 9, 2017//
People’s Intermountain Bank in Utah has completed its purchase of seven Banner Bank branches in Utah for a price of $250 million in loans, $165 million in deposits and the assets and liabilities of the branches.
The Walla Walla, Washington bank, which has 15 branches in Idaho, announced the impending sale in July. The seven Utah branches are in Provo, Orem, Salem, Springville, South Jordan, Salt Lake City and Woods Cross. The branches will operate under the name of Bank of American Fork, a division of People’s Intermountain Bank, the bank said in a statement.
The $10.2 billion Banner Corporation is a holding company that operates two commercial banks from 175 locations Washington, Oregon, California, and Idaho. Its Idaho branches are in Boise, Meridian, Twin Falls, Orofino, Sandpoint, St. Maries, Nampa, Moscow, Lewiston, and Hayden.
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