OTS Approves Merger in Washington State

SEATTLE -- Washington Mutual Savings Bank said the Office of Thrift Supervision has approved its acquisition of Sound Savings and Loan Association.

Sound is a single-location thrift in Seattle with $27.5 million in assets. Its shareholders, if they vote approval, would be due to receive $6 in Washington Mutual common stock for each of their shares.

Washington Mutual, which has $1.5 billion in assets, said it expects to complete the acquisition in early 1992.

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