Thursday, February 1, 1996 - Page updated at 12:00 AM

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Business Digest

Washington Mutual Deal For Oregon Bank Completed

Seattle Times Staff: Seattle Times News Services

SEATTLE - Washington Mutual, principally a savings-bank company, says it has completed the acquisition of Western Bank of Coos Bay, Ore., a commercial bank.

Western Bank shareholders receive 0.69126 of a share of Washington Mutual stock for each Western share. Based on yesterday's closing price, when the deal was completed and Washington Mutual was at $28.875, the cash value of 0.69126 is $19.96.

Western will be part of Washington Mutual's commercial banking group. Western has 42 offices in 35 Oregon communities. Its assets total $787 million.

Copyright (c) 1996 Seattle Times Company, All Rights Reserved.


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