First Security Bank of Oregon has merged with Benton County Bank of Corvallis.
The merger of two Benton County Bank branches into the First Security Bank of Oregon was effective Saturday. Owners of Benton County Bank stock received First Security Corp. shares, but the exchange rate was not disclosed.First Security of Oregon is a subsidiary of First Security Corp., of Salt Lake City. With the merger, the parent company's four banks now operate 211 offices in Oregon, Utah, Idaho and Wyoming.
The merger increases to 13 the number of full-service banking offices First Security operates in Oregon and adds $36 million in assets, $17 million in loans and $31 million in deposits to the bank's balance sheet.