Sound Credit Union Finalizes Acquisition of Washington Business Bank

TACOMA, Wash.--(BUSINESS WIRE)--Late last week, Sound Credit Union (Sound), headquartered in Tacoma, announced the completion of its acquisition of Washington Business Bank (OTCPK; WBZB) based in Olympia, Washington. The transaction, finalized late last week, includes Sound acquiring all assets and assuming substantially all liabilities of Washington Business Bank.

With the addition of Washington Business Bank, Sound’s asset size now exceeds $3 billion, including more than $2.5 billion in deposits and $2.3 billion in loans. Sound’s branch network now includes the Washington Business Bank branch, located at 5^th Avenue Southeast and Franklin Street in Olympia. This increases their branch network to 26 full-service locations, offering Washingtonians access to personal and business products and services designed to empower them to manage their finances with confidence.

“We are excited to announce the completion of the acquisition with Washington Business Bank and to welcome their clients and team members to the Sound family,” said Don Clark, President and CEO of Sound Credit Union. “We are looking forward to building meaningful relationships with our new members and gaining a deeper understanding of how we can best serve them and others throughout Thurston County.”

The full-system integration of both organizations will take place over the next few months. Sound members will receive regular communications with updates regarding the progress of the integration. “As we move forward together, Sound will seek opportunities to support our members and community with a suite of financial products and services that help them to manage their finances with ease,” said Clark. “Most importantly, we want our members, employees and community to know we genuinely care and are committed to building meaningful relationships with them. At Sound, we will always stand with you through all waves of life.”

About Sound Credit Union

Sound Credit Union was founded in 1940 and today is one of Washington State’s largest credit unions. With 26 full-service branch locations throughout the Puget Sound area, Sound provides over 175,000 members with authentic and trusted financial support and services. Sound is driven by the purpose of standing with members, employees and the community through all waves of life.