M&A Deal Summary

1st Security Bank Acquires Anchor Bancorp.

On November 16, 2018, 1st Security Bank acquired financial services company Anchor Bancorp. from Washington Federal for 31M USD

Acquisition Highlights
  • This is 1st Security Bank’s 1st transaction in the Financial Services sector.
  • This is 1st Security Bank’s largest (disclosed) transaction.
  • This is 1st Security Bank’s 1st transaction in the United States.
  • This is 1st Security Bank’s 1st transaction in Washington.

M&A Deal Summary
Date 2018-11-16
Target Anchor Bancorp.
Sector Financial Services
Buyer(s) 1st Security Bank
Sellers(s) Washington Federal
Deal Type Divestiture
Deal Value 31M USD
Advisor(s) Keefe, Bruyette, & Woods, Inc.
Stifel, Nicolaus & Co., Inc. (Financial)
Breyer & Associates
Silver Freedman Taff & Tiernan (Legal)

Target

Anchor Bancorp.

Lacey, Washington, United States
website
Anchor Bancorp. is a provider of financial services through it operating company Anchor Bank. Anchor Bancorp. was founded in 1981 and is based in Lacey, Washington.

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Buyer(S) 1

Buyer

1st Security Bank

Mountlake Terrace, Washington, United States

website

Category Company
Founded 1936
Sector Financial Services
Employees405
Revenue 120M USD (2022)
DESCRIPTION

1st Security Bank is the holding company for 1st Security Bank, which provides loan and deposit services primarily to small and middle-market businesses and individuals in Western Washington through its 21 bank branches and eight loan production offices in various suburban communities in Western Washington, and one loan production office in the market area of the Tri-Cities, Washington. 1st Security services home mortgage customers throughout Washington State with an emphasis in Western Washington and Tri-Cities home lending markets. 1st Security Bank was incorporated in 1936 and is based in Mountlake Terrace, Washington.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Divestiture) 1 of 2
State (Washington) 1 of 1
Country (United States) 1 of 2
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-07 Columbia Banking System - Seven Branches in Washington and Oregon

Newport, Oregon, United States

Columbia Banking System's Seven Branches in Washington and Oregon consists of 5 branches in Oregon, and 2 branches from Washington which provides banking solutions.

Buy -

Seller(S) 1

SELLER

Washington Federal

Seattle, Washington, United States

website

Category Company
Founded 1917
Sector Financial Services
Employees2,098
Revenue 662M USD (2022)
DESCRIPTION

Washington Federal is a financial services provider. It operate in eight western states, including Washington, Arizona, Idaho, Nevada, Oregon, Texas, Utah and New Mexico. Washington Federal Bank was founded in 1917 and is based in Seattle, Washington.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 2 of 2
Type (Divestiture) 2 of 2
State (Washington) 2 of 2
Country (United States) 2 of 2
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-15 Washington Federal - Insured Deposits

Seattle, Washington, United States

Washington Federal, Inc. - Insured Deposits includes checking, savings, money market and certificates of deposit.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-08 Bodybuilding.com

Meridian, Idaho, United States

Bodybuilding.com is an online retailer of vitamins, minerals, dietary and nutritional supplements, and fitness-related products. The Company’s online retail model combines expert nutrition and fitness content and advice with an extensive array of top-of-the-line nutritional supplements, including its own proprietary brand, Higher Power™, as well as accessories and apparel.

Buy $15M
Mergr

Product

Company

Legal