Monday, June 17, 2013

Cache Valley Bank acquires eight branches in central, southern Utah

Logan-based Cache Valley Bank will acquire eight AmericanWest Bank branches in central and southern Utah, with the transaction expected to be completed in the third fiscal quarter of this year.

The banks have entered into a definitive agreement, and the acquisition is subject to regulatory approval and all other customary conditions of closing. The branches included are Price, Fairview, Mt. Pleasant, Nephi, Loa, St. George and two in Ephraim.

The sale will also allow AmericanWest Bank to reshape its service area in Utah, focusing on serving the communities along the Interstate 15 corridor from North Salt Lake to Utah County, according to a joint news release. Herald Journal