Bank Of America To Merge Operations

Bank of America will move its legal headquarters for its Idaho branches from Coeur d’Alene to Spokane, where it will merge with the company’s Seafirst Bank operations.

Banks are not allowed to extend branches over state lines. But recent changes in banking laws have allowed banks to move headquarters 30 miles, said Betty Reiss, spokeswoman for Bank of America in San Francisco.< Bank of America’s 22 Idaho branches are managed mostly from Boise, Reiss said. The Coeur d’Alene headquarters is used for legal purposes only, she said, so no personnel will be moved in the change.

The Idaho branches will not take the Seafirst name that Bank of America uses in Washington, Reiss said. The move was designed as a convenience for customers who are Idaho residents but work in Spokane or other Washington cities.

Those customers now will be able to deposit money in their Idaho accounts from Washington Seafirst banks, she said. Seafirst has 277 Washington branches.

The merger, which will reduce administrative costs, should be completed by year’s end, the company said.

, DataTimes