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WEST ONE BANCORP ACQUIRES WASHINGTON FEDERAL SAVINGS BANK

 WEST ONE BANCORP ACQUIRES WASHINGTON FEDERAL SAVINGS BANK
 BOISE, Idaho, Dec. 2 /PRNewswire -- West One Bancorp (NASDAQ-NMS: WEST) today announced completion of its acquisition of Washington Federal Savings Bank of Hillsboro, Ore.
 West One acquired all the outstanding common stock of Washington Federal in an exchange of common stock in which Washington Federal shareholders will receive .613848 shares of West One common stock in exchange for each share of Washington Federal common stock.
 On May 20, 1991, West One and Washington Federal signed a letter of intent whereby West One would purchase the outstanding shares of Washington Federal. On Oct. 16, 1991, the shareholders of Washington Federal voted in favor of this agreement with West One and on Nov. 1, 1991, the bank regulatory agencies approved the proposed acquisition.
 Washington Federal's 15 branch $362 million asset institution will add to West One Bancorp's Oregon 17 banking office $435 million asset bank in the Oregon market.
 West One Bancorp is a regional bank holding company headquartered in Boise, Idaho, with assets of over $5 billion and more than 155 offices in Idaho, Oregon, Utah and Washington.
 -0- 12/2/91 R
 /CONTACT: Linda Blount-Strauss, West One Bancorp, 208-383-7474
 (WEST) CO: West One Bancorp; Washington Federal Savings Bank ST: Idaho IN: FIN SU: TNM


JH -- SE008 -- 8561 12/02/91 19:22 EST
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Publication:PR Newswire
Date:Dec 2, 1991
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