Washington Mutual Buys Oregon Bank

Washington Mutual Inc. has agreed to acquire Western Bank of Coos Bay, Ore., by early 1996, the banks announced Thursday.

Western Bank has 41 offices in Oregon and assets of $780.1 million.

Seattle-based Washington Mutual lists assets of $20.3 billion and operates 260 branches.

Under terms of the merger, Western shareholders are expected to receive .72464 shares of Washington Mutual stock for each share of Western stock.