A bank merger agreement was put on hold

Olympic National Bancorp, a Westside bank holding company, and Encino--based Valley State Bank were scheduled Monday to sign a letter of intent to combine into a financial--services company with more than $220 million in assets. But representatives of both concerns said that issues still need to be resolved before the signing can take place. Jules Huppert, president and chief executive of Valley State, said that the agreement was delayed in part because some bank officials are out of town but that he believed that it would be completed shortly.