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Originally published July 9, 2013 at 1:28 PM | Page modified July 10, 2013 at 6:53 AM

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HomeStreet Bank buys branches on home turf

The parent of HomeStreet Bank has agreed to buy two bank branches in West Seattle and Bainbridge Island from AmericanWest Bank.

Seattle Times business staff

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The parent of HomeStreet Bank has agreed to buy two bank branches in West Seattle and Bainbridge Island from AmericanWest Bank.

It’s the first branch acquisition by Seattle-based HomeStreet since it held a public stock offering nearly 18 months ago to strengthen its capital base.

The branches have a combined $36.5 million in deposits. Employees at both branches will be offered jobs with HomeStreet when the deal closes, which is expected within three months, the company said.

HomeStreet will then have 19 deposit-taking branches in the Puget Sound region .

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