Bank branches sold

Colfax and Pullman branches of Bank of America are among 51 which have been acquired by Washington Federal Bank. The acquisition was announced July 18 along with a quarterly earnings report by Washington Federal.

The bank branches are located in Eastern Washington, Idaho, Oregon and New Mexico.

The transaction is expected to close in the fourth quarter of this year subject to approval from the Office of the Controller of the Currency.

Bank of America in Colfax was formerly known as Seattle First National Bank, or SeaFirst. It later became part of the Bank of America system based in San Francisco. It is now based in Charlotte, N.C., after it was acquired by Nations Bank. The buyer retained the Bank of America name.

Deposits in the 51 branches total $51 million and loans outstanding total $11 million.

The acquisition was announced by Washington Federal Chairman Roy Whitehead. All employees in the branches will be offered continued employment with Washington Federal while it completes its conversion to a national bank. Based in Seattle, it now has 185 branches in eight western states.