Washington Federal, Inc. and Luther Burbank Corporation Announce Receipt of Shareholder Approval for Merger

May 05, 2023

Washington Federal, Inc. (NASDAQ: WAFD) (“Washington Federal”), the parent company of Washington Federal Bank (“WaFd Bank”), and Luther Burbank Corporation (NASDAQ: LBC) (“Luther Burbank”), the parent company of Luther Burbank Savings, jointly announced today that, at special meetings of their respective shareholders held on May 4, 2023, Washington Federal shareholders approved the issuance of shares of Washington Federal’s common stock to the shareholders of Luther Burbank pursuant to that certain Agreement and Plan of Reorganization, dated as of November 13, 2022 (the “Merger Agreement”), by and between Washington Federal and Luther Burbank, and Luther Burbank’s shareholders approved the Merger Agreement, the merger of Luther Burbank with and into Washington Federal, with Washington Federal as the surviving corporation (the “Merger”), and the compensation payable to the named executive officers of Luther Burbank in connection with the Merger. The final results on the proposals voted on at the special meetings of each company’s shareholders held on May 4, 2023 will be set forth in the companies’ separate Form 8-Ks to be filed with the U.S. Securities and Exchange Commission after certification by each company’s inspector of election.

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