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A deal by Washington Federal — operating under an MOU with the OTS for nearly a year — to buy branches from Beal Financial may be its greatest stoke of confidence to date.
June 17
Pioneer Bank in Roswell, N.M., is expanding its reach in the Lone Star state with a deal to buy two branches in El Paso, Texas, from Washington Federal Inc. in Seattle.
The $13.6 billion-asset Washington Federal said Monday that sale would include $20 million of deposits, but no loans. Financial terms of the deal were not disclosed.
Washington Federal inherited the El Paso branches when it acquired a Roswell bank 2007. It has 166 branches in eight western states, but only six in Texas.
For the $595 million-asset Pioneer, the deal would strengthen its presence in El Paso, where it has just one branch. Its other 12 branches are in New Mexico.
