Washington Federal to acquire Luther Burbank for $654m.

Washington Federal, a bank, agreed to acquire Luther Burbank, a bank holding company, for $654m. “Our core strength has been our deep commitment to acting with integrity. We believe we have found a long-term partner in WaFd whose values align with ours, can offer our customers a wider range of technology-enabled financial solutions and expanded geographic footprint that will help our customers thrive,” Simone Lagomarsino, Luther Burbank President and CEO. On January 30, 2024, Washington Federal Bank and Luther Burbank jointly announced that they received the required regulatory approvals from the Federal Deposit Insurance Corporation and the Washington State Department of Financial Institutions for the acquisition.