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Bank of America sells 15 branches

Bank of America is selling its 15 branches in the Pacific Northwest, including a dozen Oregon locations along the coast and in the southern part of the state. The branches are being acquired by Bank of the Cascades. Cascades Bank said the deal and conversion of the branches should happen by the second quarter of 2016. It expects to retain current employees at the branches. The deal is expected to add $706 million of deposits to the Cascades Bank’s balance sheet. It’s also acquiring Washington branches in Cathlamet, Raymond and Westport.

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