RAINIER <RBAN> COMPLETES ACQUISITION
Rainier Bancorp said it completed the
acquisition of Tacoma, Wash.-based United Bank, for 59 mln dlrs
worth of Rainier stock.
    United, a savings bank with 607 mln dlrs in assets and 23
offices, will operate as a wholly-owned subsidiary, Rainier
said.
    Rainier, which last month agreed to merge with Security
Pacific Corp <SPC>, said the United acquisition will increase
its assets to 9.8 billion dlrs from the 9.2 billion reported at
the end of 1986.
 Reuter
