FS Bancorp, Inc. and Anchor Bancorp Announce Receipt of Regulatory Approvals for Proposed Merger
26 Septembre 2018 - 9:51PM
FS Bancorp, Inc. (Nasdaq: FSBW) the parent company of 1st Security
Bank of Washington (“1st Security Bank”), and Anchor Bancorp
(Nasdaq: ANCB, "Anchor"), the parent company of Anchor Bank, today
jointly announce that the required regulatory approvals have been
received from the Washington Department of Financial Institutions
and the Federal Deposit Insurance Corporation in connection with
the proposed merger of Anchor with and into FS Bancorp as well as
the merger of Anchor Bank into 1st Security Bank. The Federal
Reserve Board also granted FS Bancorp’s requested waiver from its
application filing requirements.
The completion of the proposed merger remains subject to
approval from Anchor shareholders and the satisfaction of other
customary closing conditions. Anchor's special meeting of
shareholders is scheduled for November 13, 2018 and a proxy
statement/prospectus will be mailed to shareholders on or about
October 4, 2018.
"Each meeting we have with Anchor employees further validates
the strong cultural fit we anticipated with the merger announcement
on July 17, 2018, and we look forward to growing in the communities
served by Anchor and FS Bancorp,” stated Joe Adams, Chief Executive
Officer of FS Bancorp.
Jerry Shaw, Chief Executive Officer of Anchor, said, "We are
pleased to move forward toward completion of the merger with FS
Bancorp. Our partnership will benefit our shareholders, customers
and the communities we serve."
About FS Bancorp, Inc.
FS Bancorp, Inc., a Washington corporation, is the holding
company for 1st Security Bank of Washington. 1st Security Bank
provides loan and deposit services to predominantly small and
middle-market businesses and individuals in western Washington
through its bank branches, including the newly opened Silverdale
branch in the 2nd quarter of 2018, and seven loan production
offices in various suburban communities in the greater Puget Sound
area and in the market area of the Tri-Cities, Washington.
About Anchor Bancorp, Inc.
Anchor Bancorp is headquartered in Lacey, Washington and is the
parent company of Anchor Bank, a community-based savings bank
primarily serving Western Washington through its nine full-service
banking offices within Grays Harbor, Thurston, Lewis, and Pierce
counties, and one loan production office located in King County,
Washington. For more information, visit the Company's web site
www.anchornetbank.com.
Forward Looking Statements
This press release contains forward-looking statements regarding
FS Bancorp, Anchor, the proposed merger and the combined company
after the close of the transaction that are intended to be covered
by the safe harbor for "forward-looking statements" provided by the
Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact are forward-looking
statements. These statements involve inherent risks, uncertainties
and contingencies, many of which are difficult to predict and are
generally beyond the control of FS Bancorp, Anchor and the combined
company. We caution readers that a number of important factors
could cause actual results to differ materially from those
expressed in, or implied or projected by, such forward-looking
statements. In addition to factors previously disclosed in reports
filed by FS Bancorp with the Securities and Exchange Commission
(the "SEC"), risks and uncertainties for each institution and the
combined institution include, but are not limited to, the following
factors: the expected cost savings, synergies and other financial
benefits from the merger might not be realized within the expected
time frames or at all; conditions to the closing of the merger may
not be satisfied; the shareholders of Anchor may fail to approve
the consummation of the merger; the integration of the combined
company, including personnel changes/retention might not proceed as
planned; and the combined company might not perform as well as
expected. All forward-looking statements included in this
communication are based on information available at the time of the
communication. FS Bancorp and Anchor undertake no obligation to
revise or publicly release any revision or update to these
forward-looking statements to reflect new information, future
events or circumstances or otherwise that occur after the date on
which such statements were made.
Annualized, pro forma, projected and estimated numbers are used
for illustrative purposes only, are not forecasts and may not
reflect actual results.
Additional Information
FS Bancorp, Inc. filed a registration statement on Form S-4
with the SEC in connection with the proposed transaction. The
registration statement includes a proxy statement of Anchor Bancorp
that also constitutes a prospectus of FS Bancorp, which is being
sent to the shareholders of Anchor. Anchor shareholders are
advised to read the proxy statement/prospectus because it contains
important information about FS Bancorp, Anchor and the proposed
transaction. This document and other documents relating to
the merger filed by FS Bancorp can be obtained free of charge from
the SEC's website at www.sec.gov. These documents also can be
obtained free of charge by accessing 1st Security Bank’s website at
www.fsbwa.com under the tab "Investor Relations" and then under
"SEC Filings." Alternatively, these documents can be obtained
free of charge from FS Bancorp upon written request to FS Bancorp,
Inc., Attn: Investor Relations, 6920 220th St SW, Mountlake
Terrace, Washington, 98043 or by calling (425) 771-5299 or from
Anchor, upon written request to Anchor Bancorp, Attn: Investor
Relations, 601 Woodland Square Loop SE, Lacey, WA, 98503 or by
calling (360) 491-2250.
Participants In The Solicitation
FS Bancorp, Anchor and certain of their respective directors and
executive officers may be deemed to be participants in the
solicitation of proxies from Anchor shareholders in connection with
the proposed transaction under the rules of the SEC.
Information about the directors and executive officers of FS
Bancorp may be found in the definitive proxy statement of FS
Bancorp filed with the SEC by FS Bancorp on March 28, 2018.
This definitive proxy statement can be obtained free of charge from
the sources indicated above. Information about the directors
and executive officers of Anchor is included in the proxy
statement/prospectus filed with the SEC. Additional
information regarding the interests of these participants is
also included in the proxy statement/prospectus regarding the
proposed transaction.
SOURCE: FS Bancorp, Inc. and Anchor Bancorp
Related Links
www.fsbwa.com
www.anchornetbank.com
Investor Contacts
FS Bancorp, Inc.:Phone: (425)
771-5299
Joseph C. Adams, Chief Executive OfficerMatthew
D. Mullet, Chief Financial Officer
Anchor Bancorp:Phone: (360)
491-2250
Jerald L. Shaw, President and Chief Executive
OfficerTerri L. Degner, Chief Financial Officer
Anchor Bancorp (delisted) (NASDAQ:ANCB)
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