Sound Credit Union, based in Tacoma, Wash., recently finalized its acquisition of Washington Business Bank, based in Olympia.
Through this transaction, Sound acquired all assets and assumed substantially all liabilities of the 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.
Further, Sound’s branch network now includes the Washington Business Bank branch, located at 5th Avenue Southeast and Franklin Street in Olympia. Sound now offers 26 full-service locations.
“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,” Don Clark, president and CEO of Sound Credit Union, said. “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 integration of both organizations will take place over the next few months. Sound Credit Union members will receive regular updates on 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,” Clark said. “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.”