BANKING

Sale of Bank Branches Approved: West One Bancorp said it received approval from the Federal Deposit Insurance Corp. to buy 32 Security Pacific Bank branches, six Security Pacific Savings Bank branches and certain other Security Pacific business units in Washington state. West One will assume about $1.3 billion in deposit liabilities and about $800 million in loans from Security Pacific. The transaction is part of a previously reported agreement that was signed April 2. West One, which has $5.4 billion in assets, said it expects to complete the proposed acquisition during the third quarter.