The San Francisco-based bank, which bought Frontier Financial in April, said most affected employees had been notified earlier they were "transitional."
EVERETT -- Union Bank, which acquired Frontier Financial Corp. last year in a forced sale, has warned state officials that it plans to lay off 72 people by the end of this month.
Alan Gulick, the bank's Northwest communications manager, wasn't available to discuss the layoffs.
After a call from The Herald, he e-mailed a prepared statement saying the employees are in the bank's technology and services area and in other administrative functions.
He said they will receive severance and career transition services.
"The vast majority of the employees affected by today's filing are employees who were informed at the time Union Bank, based in San Francisco, acquired Frontier Bank that their positions were transitional and would not be part of Union Bank post-conversion," he said in the statement.
Frontier Financial Corp., the parent company of the long-time Everett institution, was closed by state regulators April 30, after a lengthy struggle.
Regulators had held the bank under scrutiny for more than a year after growing losses from a large number of real estate loans left it under capitalized.
Gulick said the bank's ongoing approach will be to "align our staffing needs with the bank's priorities and make sure we have the right people and skill sets for successful growth."
The Pacific Northwest is important to the bank, he said, adding it has high expectations for growth in retail, commercial, residential lending and its wealth management business.
Alan Gulick, the bank's Northwest communications manager, wasn't available to discuss the layoffs.
After a call from The Herald, he e-mailed a prepared statement saying the employees are in the bank's technology and services area and in other administrative functions.
He said they will receive severance and career transition services.
"The vast majority of the employees affected by today's filing are employees who were informed at the time Union Bank, based in San Francisco, acquired Frontier Bank that their positions were transitional and would not be part of Union Bank post-conversion," he said in the statement.
Frontier Financial Corp., the parent company of the long-time Everett institution, was closed by state regulators April 30, after a lengthy struggle.
Regulators had held the bank under scrutiny for more than a year after growing losses from a large number of real estate loans left it under capitalized.
Gulick said the bank's ongoing approach will be to "align our staffing needs with the bank's priorities and make sure we have the right people and skill sets for successful growth."
The Pacific Northwest is important to the bank, he said, adding it has high expectations for growth in retail, commercial, residential lending and its wealth management business.
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