First Financial reaches deal to buy four Opus Bank branches

Published 1:30 am Thursday, July 27, 2017

EVERETT — The holding company of First Financial Northwest Bank announced Thursday that it is acquiring four branches from Opus Bank, including three in Snohomish County.

First Financial said it received approval for the transaction from the Federal Deposit Insurance Corporation and Washington State Department of Financial Institutions.

The deal is to close later this year. The bank will assume $102 million in deposits associated with the branches, based on deposits as of Dec. 31.

The branches are at 3532 172nd St. NE, Smokey Point-Arlington; 17512 Highway 9 SE, Snohomish-Clearview; 8615 Market Place, Suite 300, Lake Stevens; and 17641 Garden Way NE, Woodinville.

First Financial earlier announced that it was purchasing bank branches but did not name the bank or the locations.

First Financial is expanding the number of branches, according to a filing with the U.S. Securities and Exchange Commission.

The bank is headquartered in Renton and has a branch there. The bank also opened a branch in Mill Creek in 2015 and another in Edmonds in 2016.

In April, the bank also announced that it is opening branches in Bothell and the Crossroads area of Bellevue.

This story has been modified to correct one of the branch locations to be acquired by First Financial Northwest Bank.