Washington Federal Inc. has announced plans to buy a Southern Oregon based bank chain.
South Valley Bancorp, based in Klamath Falls, may soon be a part of Washington Federal-- making it Oregon's seventh-largest bank by deposits.
Under the proposal, Washington Federal will give South Valley shareholders $33.7 million worth of its stock.
Those regulators and shareholders have not yet approved the deal.
However, Washington Federal expects it to close during the third quarter.