Washington Federal receives regulatory approval for Luther Burbank acquisition

WaFd (WAFD) and Luther Burbank (LBC) jointly announced that they received the required regulatory approvals from the Federal Deposit Insurance Corporation and the Washington State Department of Financial Institutions for Luther Burbank Savings to be merged with and into Washington Federal Bank, and from the board of governors of the Federal Reserve System for Luther Burbank to be merged with and into WaFd on the terms and subject to the conditions of the agreement and plan of reorganization, dated as of November 13, 2022, by and between Luther Burbank and WaFd.