Washington

The Seattle bank's improved loan yields offset higher expenses tied to Bank Secrecy Act remediation. Washington Federal had to delay a pending acquisition after issues emerged with its anti-money-laundering compliance.

Washington Federal, which is working through Bank Secrecy Act issues, also allowed Anchor to consider offers from other potential buyers.

A court agreed with HomeStreet that Blue Lion Capital failed to comply with the company's advance-notice bylaw when it submitted director nominations and shareholder proposals.

The company has agreed to pay $89 million for Premier Commercial Bancorp. The acquisition would significantly increase its branch presence and lending in the Portland area.

The issue had forced the Los Angeles company to scuttle its deal to acquire U&I Financial in Washington state.

The Seattle company invalidated the proposal by Blue Lion Capital, claiming it fell short of its bylaw requirements.

The Seattle company first disclosed an issue in September, when it withdrew an application to buy Anchor Bancorp.

Blue Lion Capital, which is upset with the Seattle company's growth strategy, also wants to replace two of the company's directors.

Hadley Robbins had a difficult task stepping in after Melanie Dressel's unexpected death last year. Now he must find ways to keep expanding without disrupting a system that has proved successful.

The Seattle company, which is gearing up for a proxy battle with Blue Lion Capital, appointed a former U.S. Bancorp executive to fill a board vacancy.