In The News
Sound Credit Union Finalizes Acquisition of Washington Business Bank
TACOMA, Wash. – 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...
Washington Business Bank Announces Receipt of Federal Deposit Insurance Corporation Approval for Transaction with Sound Credit Union
OLYMPIA, WA, Sept. 27, 2024 – Washington Business Bank (the “Bank”) (OTCPK: WBZB) today announced today that they received the required regulatory approval from the Federal Deposit Insurance Corporation (“FDIC”) for Sound Credit Union (“Sound”) to acquire substantially all of the assets and assume substantially all of the liabilities (including...
Washington Business Bank Reports Q2 & Ytd Results
2024 Second Quarter Financial Highlights Q2 2024 net income of $348,019, 11.48% higher than Q1 2024 YTD earnings of $660,210, 13.77% lower than YTD June 2023 The bank had no non-performing assets at the end of Q2 Tangible book value per share increased 6.83% over second quarter 2023 OLYMPIA, WA...
Washington Business Bank Shareholders Approve Acquisition by Sound Credit Union
OLYMPIA, WA, May 30, 2024 – Washington Business Bank (OTCPK: WBZB) today announced that at the annual meeting of shareholders held last night, its shareholders approved the previously announced purchase and assumption agreement with Sound Credit Union whereby Sound Credit Union will purchase substantially all assets and assume substantially all...
Washington Business Bank Reports Q1 Income
2024 First Quarter Financial Highlights First quarter 2024 net income of $312,191 Loans outstanding increased by 6.15% over Q1 2023 Tangible book value per share increased 8.22% over Q1 2023 Total deposits increased by 3.72% over Q1 2023 There were no non-performing assets at the end of the quarter OLYMPIA,...
Sound Credit Union and Washington Business Bank Announce Acquisition Agreement
TACOMA, Wash. and OLYMPIA, Wash. – March 11, 2024 - Sound Credit Union, a leading not-for-profit financial institution serving Washington State, and Washington Business Bank (OTCPK: WBZB), a premier commercial bank headquartered in Olympia, Washington, announced today they have entered into a definitive agreement in which Sound Credit Union will...