Luther Burbank Corp

NASDAQ:LBC  
11.76
-0.09 (-0.76%)
4:15:40 PM EDT: $11.76 0.00 (0.00%)
Mergers / Acquisitions

Washington Federal Signs Merger Pact With Luther Burbank

Published: 11/14/2022 02:12 GMT
Luther Burbank Corp (LBC) - Washington Federal, Inc. and Luther Burbank Corporation Announce Definitive Merger Agreement to Form a $29 Billion Asset Western US Bank.
Transaction Valued at Approximately $654 Million.
Washington Federal Will Acquire Luther Burbank and Its Wholly-owned Subsidiary, Luther Burbank Savings.
Luther Burbank- Co's Shareholders Will Be Entitled to Receive 0.3353 Shares of Washington Federal Common Stock for Each Share of Luther Burbank.
Luther Burbank - Transaction, Which is Anticipated to Close As Early As Second Calendar Quarter of 2023, Will Expand Washington Federal's Franchise Into California.
As Part of Transaction, Wafd Bank is Committing $1 Million to Support Communities in Luther Burbank's California Footprint.