Washington

The company will pay $191 million for Skagit Bancorp, a deposit-rich bank in Washington's North Sound region.

Anchor will be sold to FS Bancorp after agreeing to terminate a deal with Washington Federal. The original deal had been delayed as Washington Federal dealt with BSA issues.

Jeff Deuel will take over as CEO of Heritage Bank in Olympia, Wash., for Brian Vance, who will remain as the head of the holding company until next year.

Coastal Financial in Everett, Wash., said that it could be active in M&A with capital from its IPO and that it has already identified several possible targets.

The deal is designed to improve capital ratios and reduce risk at the Seattle company.

First Western in Colorado and Coastal Financial in Washington are the latest banks to disclose plans to go public.

Blue Lion Capital, which has been a vocal critic of the Seattle company's strategy, also wants management to consider selling its MSR portfolio.

The Seattle company is firing 127 people, or a tenth of its mortgage staff, after enduring months of slow activity.

The city wanted to sever its relationship with the bank, but it ran into a big obstacle.

An activist investor, which opposed two director nominees, failed to obtain the legally required approval from the Seattle company's state bank regulator before launching its challenge.