Western Financial Group and its subsidiary, Bank West, announced today that they have received all necessary approvals from regulatory authorities to complete the acquisition of Ubiquity Bank of Canada from Prospera Credit Union.

The parties are now focused on a timely closing of
the transaction, WFG says. Immediately after closing, Ubiquity would be amalgamated with Bank West.

The deal, which was announced in May 2007, will add an estimated additional $125 million of assets to the Bank West portfolio.

Ubiquity Bank, is a Canadian chartered bank based in Abbottsford British Columbia, specializing in personal and commercial term mortgages and loans, through a network of intermediaries primarily in western Canada.

WFG provides insurance, financial services and banking services in over 80 communities, to more than 400,000 individuals and businesses in Western Canada.