Great American First Savings Bank has completed...

Great American First Savings Bank has completed the merger-conversion of newly acquired Capital Savings Bank, a 40-branch mutual savings and loan with $675 million in assets based in Olympia, Wash., into Great American First Savings Bank, FSB, a Tucson-based subsidiary.

Great American named Louis H. Knierim, a senior vice president in its loan group, as president and managing officer of the new Capital Savings division of Great American. Capital Chairman Hal Wolfe Sr. will become chief executive officer of the division and chairman of its advisory board. He will also join Great American’s board of trustees.

Great American last week issued 651,163 shares of stock priced at $16.125 per share in the merger-conversion. Great American shares outstanding now total 23.7 million. Following completion of the merger, Great American has $14 billion in assets and 233 offices in California, Arizona, Colorado, Montana and Washington.