Banner Bank completes sale of Utah branches

WALLA WALLA – Banner Bank on Monday announced the completion of its sale of its Utah branches to People’s Intermountain Bank, a banking subsidiary of People’s Utah Bancorp.

A subsidiary of Walla Walla-based Banner Corp., Banner Bank said the terms of purchase include the sale of about $250 million in loans, $165 million in deposits and all of Banner Bank’s seven Utah branches, according to a news release. Thos locations are in Provo, Orem, Salem, Springville, South Jordan, Salt Lake City and Woods Cross.

The Utah branches will operate under the name of Bank of American Fork, a division of People’s Intermountain Bank, the release said.

Banner Bank now has 175 locations in Washington, Oregon, California and Idaho.