Washington Mutual Buys Another Bank

Washington Mutual Inc. said Monday it agreed to buy privately held United Western Financial Group Inc. for $80.3 million.

United Western, based in Salt Lake City, is the parent company of United Savings Bank and Western Mortgage Loan. It reported assets of $403.9 million and deposits of $291.9 million at June 30.

United Savings Bank operates nine branches, and Western Mortgage Loan operates seven loan offices.

Washington Mutual, a Seattle-based savings and loan holding company, had assets of $22.3 billion at June 30. It operates 16 financial centers and a loan center in Utah.