Washington Federal, Anchor extend merger deadline
Washington Federal in Seattle and Anchor Bancorp in Lacey, Wash., have extended the deadline for their planned merger.
The companies disclosed in separate regulatory filing on Monday that the deadline was extended from June 30 to Aug. 31. The amended agreement also allows Anchor to consider offers from other potential buyers until July 31. If Anchors agreed to be sold to another institution, it can end its sale to Washington Federal without paying a termination fee.
The $15.6 billion-asset Washington Federal had to withdraw its regulatory applications to buy Anchor in September after issues surfaced with its Bank Secrecy Act compliance. At that time, the termination deadline was extended to June 30 from Dec. 31.
Washington Federal agreed last April to pay $64 million in stock for the $472 million-asset Anchor.