SEATTLE - Washington Mutual, principally a savings-bank company, says it has completed the acquisition of Western Bank of Coos Bay, Ore., a commercial bank.
Western Bank shareholders receive 0.69126 of a share of Washington Mutual stock for each Western share. Based on yesterday's closing price, when the deal was completed and Washington Mutual was at $28.875, the cash value of 0.69126 is $19.96.
Western will be part of Washington Mutual's commercial banking group. Western has 42 offices in 35 Oregon communities. Its assets total $787 million.