Washington Mutual To Buy Utah's United Savings Bank
Seattle Times Business Staff And News Services
SEATTLE - Washington Mutual says it will acquire privately held United Western Financial Group of Salt Lake City for $80.3 million in cash.
Had this deal and another pending acquisition already been completed, Washington Mutual would have been Utah's top mortgage provider through the first half of 1996. It already owns 16 financial centers and a loan center in Utah. United Western operates nine branches under the name United Savings Bank, plus seven loan offices under the name Western Mortgage.
The United Western deal, plus the pending bid for Utah Federal Savings Bank, need regulatory clearance and, in the latter case, shareholder approval. Both are expected to be done before year's end.
Copyright (c) 1996 Seattle Times Company, All Rights Reserved.