Zions Bancorp. in Salt Lake City has agreed to buy three branches in northern Nevada from Royal Bank of Canada.
The $65 billion-asset Zions said in a press release that its Nevada State Bank division will gain locations in Reno, Carson City and Minden. Royal Bank of Canada inherited the branches from its 2015 acquisition of City National Bank.
The deal is expected to close in the third quarter. Zions did not disclose the price it will pay.
Zions will also gain $480 million of deposits and $110 million of loans.
“It will be business as usual for the clients … while we complete all the necessary transaction details,” Terry Shirey, Nevada State’s president and CEO, said in the release.
“We look forward to welcoming both City National clients and banking professionals,” Shirey added. Nevada State “is a strong community partner with deep roots in our Nevada soil and more than 60 years of growing and serving the financial needs of our communities.”