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The Bank of American Fork is buying all seven Utah branches of Banner Bank of Walla Walla, Wash., for an estimated $15.3 million.
While the deal is subject to approval by regulators, the branches being acquired are expected to operate under the Bank of American Fork name beginning in October, the Utah-based bank said in a Thursday news release.
The seven branches are in Woods Cross, Salt Lake City, Provo, South Jordan, Orem, Salem and Springville.
The bank said it plans to consolidate the Woods Cross and Orem branches into its existing offices at Bountiful and Orem.
"The expectation is that we will continue to build on the existing relationships between branch staff and local communities in these areas," Rick Anderson, president of Bank of American Fork and its parent People's Intermountain Bank, said in the news release.