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Show Banks Weigh Merger Idea Kay L. Jacobs, President of the Bank of Pleasant Grove, has announced an-nounced that an application has been filed with the Federal Deposit Insurance In-surance Corporation to consolidate and merge the Bank of Pleasant Grove with the State Bank of Lehi, ' '"'"Mountain View Bank, American Fork and the Geneva State Bank, Orem. Deseret Bank will be the name of the new Bank. Mr. Jacobs said, "Our purpose for this change is to make it easier and more convenient for our customers to bank at our banks. For example, after the merger, a customer of any one of the banks would be able to deposit or make loan payments at any of our five offices. He would also be able to cash checks at any office." "There are several economies that the merger would provide. Costs would be reduced for such things as advertising, supplies and operations," said Mr. Jacobs. "Our management team would also be strengthened by such a merger." With the merger, the Deseret Bank would be the largest independent bank in Utah County. The Federal Deposit Insurance Corporation is expected to act on the application by the end of the year. |