Heritage Financial, Puget Sound Bancorp deal receives regulatory approvals
Heritage Financial, the parent company of Heritage Bank, and Puget Sound Bancorp, the parent company of Puget Sound Bank, announced that the Washington Department of Financial Institutions and the Federal Deposit Insurance Corporation have approved the proposed merger of Puget Sound with and into Heritage as well as the merger of Puget Sound Bank into Heritage Bank. The Federal Reserve Board also granted Heritage's requested waiver from its application filing requirements. The consummation of the proposed merger remains subject to receipt of the approval of the Puget Sound shareholders and the satisfaction of other customary closing conditions. Puget Sound's special meeting of shareholders is scheduled for January 4, 2018 and proxy materials will be mailed to shareholders on or about November 20, 2017.