Washington

Puget Sound Bank in Bellevue, Wash., is preparing to form a holding company.

The $815 million-asset company said in a press release Friday that it will close locations in Ilwaco and Ferndale in western Washington.

PricewaterhouseCoopers has hired a former FBI deputy director to lead a new consulting group to address financial crime issues.

Anchor Bancorp in Lacey, Wash., could eventually sell itself after reaching a truce with an activist investor.

Washington Federal in Seattle reported higher profit in its fiscal fourth quarter, citing a record level of commercial loan originations.

Foundation Bancorp in Bellevue, Wash., is searching for a new chief executive. The company said in a press release Tuesday that Diane Dewbrey resigned a day earlier "to pursue other interests."

The $1.5 billion-asset bank issued $25 million of subordinated notes due 2025 in a private placement. WashingtonFirst used the proceeds to redeem $8.9 million in SBLF preferred shares, which it issued to the Treasury Department in 2011.

A pair of community banks have lined up funding through separate subordinated-debt agreements with a firm in the Cayman Islands.

SEATTLE — Tiny Northwest Baptist Federal Credit Union on Friday merged into $633 million Seattle Metropolitan Credit Union. The combined credit union will hold $635 million in assets and serve 45,000 members with a total of 7 branches throughout the Greater Seattle area.

A bank failure in Georgia and then another in Washington state late Friday were estimated to cost the Federal Deposit Insurance Corp. nearly $25 million.

Anchor Bancorp in Lacey, Wash., is facing a renewed proxy battle from activist investor Joel Lawson 4th ahead of its annual shareholders meeting in late October.

The $4.8 billion-asset HomeStreet said in a press release Monday that it will pay $49.8 million in stock, or $11.70 a share, and $5.5 million in cash for the $200 million-asset Orange County Business Bank.

Sound Financial Bancorp in Seattle has hired a former Federal Home Loan Bank executive as chief administrative officer of its bank.

Washington Federal in Seattle said its chief financial officer, Diane Kelleher, plans to step down at yearend.

Promontory Financial Group has hired former Citigroup and Bank of America executive Eugene McQuade.

Baker Boyer National Bank in Walla Walla, Wash., has tapped president Mark Kajita as its new chief executive.

FS Bancorp in Mountlake Terrace, Wash., has agreed to buy four branches in Washington from Bank of America in Charlotte, N.C.

Northwest Bancorp. in Spokane has raised $20 million from a private placement of common stock. Northwest plans to use some of the proceeds to complete its acquisition of Fairfield Financial Holdings, which was announced in late June.

First Financial Northwest in Renton, Wash., has added a former Sandler O'Neill investment banker and a PacWest Bancorp director to its board.

First Northwest Bancorp in Port Angeles, Wash., lowered its previously reported results for its recently completed fiscal year because of an accounting error.