Bank of America Sells Idaho Bank Branches

Bank of America Sells Idaho Bank BranchesSeattle-based Washington Federal is acquiring 51 Bank of America branches in eastern Washington, Oregon, Idaho and New Mexico.

The company announced the move Friday with its earnings report and also said it has completed its conversion to a national bank charter.

The acquisitions will give Washington Federal a total of 236 branches. The additions:

Washington: Clarkston, Cle Elum, Chelan, Chewelah, Colfax, Colville, Dayton, Deer Park, Leavenworth, Moses Lake, Newport, Odessa, Omak, Pullman, Quincy, Republic, Walla Walla and two in Wenatchee.

Idaho: Four in Boise, Gooding, Hailey, Idaho Falls, Ketchum, Nampa, Osburn, Payette, Pocatello, Salmon, Sandpoint and Twin Falls.

Oregon: Hermiston, Hood River, La Grande, Milton-Freewater, Ontario and The Dalles.

New Mexico: Angel Fire, Chama, two in Clovis, Espanola, Hobbs, Raton, Roswell, two in Silver City, and Socorro.

Bank of America put the branches up for sale earlier this year as part of its sweeping restructuring. Washington Federal has been looking for opportunities to grow through acquisitions in states where it already has branches, including Oregon, Idaho and New Mexico.

KTVB talked to the Chief Executive Officer of Washington Federal, Roy Whitehead about what this means for Bank of America customers in the Treasure Valley.

Whitehead said that there will be a period of a few months, when it’s businesses as usual while the two banks gets ready for the conversion. Then in late 2013, new debit cards and checks will be sent to existing customers. Online banking accounts will also move over to Washington Federal’s online banking system.

Customers will be getting information in the mail about the merger, which Whiteheads urges customers to read the information very carefully so there is no confusion about the acquisition.

Whitehead also goes onto say that credit cards issued by Bank of America will not be affected by the acquisition.

SOURCE: KTVB and Seattle Times


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