Washington Mutual has completed a $51 million takeover of Olympus Capital, a federal savings bank with nine branches in Utah and two in Montana.

The Olympus locations will remain open as Washington Mutual financial centers. The Montana offices are both located in Butte.

The merger, which became effective after the close of business on Friday, means Washington Mutual will operate 13 financial centers and a loan center in the Salt Lake City area.

Olympus shareholders will receive $15.50 worth of Washington Mutual common stock for each share of Olympus common stock.