Seattle bank buying Nevada branches |

Seattle bank buying Nevada branches

Nevada Appeal Staff Report

SEATTLE — Washington Federal, Inc., parent company of the Washington Federal banking group, announced Friday that it is buying 10 branch banks in Nevada and 13 in Arizona.

The banks are coming from Bank of America and include one in Fernley to the northeast of Carson City, and in Fallon east of Nevada’s capital city.

The banking firms entered into an agreement for a deal that will close after regulatory requirements and approval come from the U.S. Office of the Comptroller of the Currency. Washington Federal said it would result in about $610 million of new deposits and $4 million in loans overall.

The Nevada banks, in addition to the Fernley and Fallon branches, are in Beatty, Elko, Ely/McGill, Mesquite, Mineral County, Moapa, Pioche and Winnemucca.

Roy M. Whitehead, Washington Federal chairman, president and CEO, welcomed new depositors and employees. He said when the transaction is done, all employees will be offered continued employment.