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Bank of Washington CEO joining First Sound Bank

Seattle-based First Sound Bank said Martin Steele will join the bank as president and CEO, subject to regulatory approval.

Current President and CEO Jon Shelton, who previously said he wants to retire in early 2019, agreed to remain in his roles until the completion of the transition.

Steele is the president and CEO of Lynnwood, Wash.-based Bank of Washington. Sound CU earlier said that it would acquire substantially all the assets and assume substantially all the liabilities of Bank of Washington.