The branches are located at Price, Fairview, Mt. Pleasant, Nephi, Loa, and two in St George and they will operate as AmericanWest banks offices until the transaction is completed, as reported by the Salt Lake City Tribune.
Financial terms of the transaction have not been disclosed, however, it is expected that the transaction will complete during July and September this year.
Cache Valley, which manages seven banking offices in Logan, Layton and St. George, will own 15 locations in seven Utah counties following the completion of the deal.
Cache Valley CEO Gregg Miller was quoted by the news agency as saying that the new branches, "are a fit with our ability to operate in communities in Utah and provide excellent markets for the bank to grow its base in the future."
Set up in 1974 and based in Spokane, Washington, AmericanWest Bank trades a business-focused community bank providing commercial and small business banking, mortgage lending, treasury management products, among others.
Organized in 1975, Cache Valley Bank operates seven branches, located across the state of Utah and its main branch is located in Logan, with additional branches located in North Logan, Layton, and St George.
