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Washington Mutual, Inc. (often abbreviated to WaMu) was an American savings bank holding company based in Seattle. It was the parent company of Washington Mutual Bank , which was the largest savings and loan association in the United States until its collapse in 2008.
The receivership of Washington Mutual Bank by federal regulators on September 26, 2008, was the largest bank failure in U.S. history. Regulators simultaneously brokered the sale of most of the banks's assets to JPMorgan Chase, which planned to write down the value of Washington Mutual's loans at least $31 billion. [7] [8]
West Coast Mutual Savings Bank, Centralia, Washington, 1996; Metropolitan Bancorp, Seattle, November 29, 1996 [3] United Savings and Loan Bank (4 branches, based in Seattle) for $65 million in 2003. Founded on July 6, 1960, it was the first savings and loan owned by Asian Americans. [4] First Mutual Bank, Bellevue, Washington, 2008 [5]
But that's impossible because Washington Mutual Bank FA changed its name in 2004, and by any name WaMu ceased to exist in 2008, when the Federal Deposit Insurance Corp. took it over. Making the ...
The thrift purchased deposits and branches of Columbia Savings and Loan in 1991, Far West Savings and Loan in 1992, Valley Federal S&L in 1992, and Encino Savings Bank in 1994. [8] In 1996, American Savings Bank was purchased by Washington Mutual Bank for $1.2 billion. [2] Washington Mutual failed in 2008 and was acquired by JP Morgan Chase Bank.
In 1998, Seattle-based thrift Washington Mutual (WaMu) purchased HF Ahmanson and its Home Savings unit for $10 billion. As a result of this takeover and those of American Savings and Great Western Financial, Washington Mutual became California’s second largest bank. At the time, HF Ahmanson had $55 billion in assets. [9]
Aug. 15—Washington Trust Bank gave the city's skyline a new look this month with bold new paint and letters changing the name of what was the Wells Fargo building. The high-rise was purchased in ...
The world’s largest mutual funds run hundreds of billions of dollars, even into the trillions. Mutual funds remain one of the most popular ways to invest, and they allow new investors to earn ...