Washington Federal saw a five-fold increase in its quarterly profit, helped in part from the takeover of Horizon Bank. Here’s a (link) to the Associated Press article with the details. The increase in profits was higher than analyst expectations.
What was also encouraging for Washington Federal, according to the article, was that it’s been able to reduce the amount of money it sets aside for souring loans.
It appears the acquisition of Horizon has been working out well for Washington Federal.
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