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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.
First Mutual Bank, Bellevue, Washington, 2008 [5] Horizon Bank (18 branches), seized by the Federal Deposit Insurance Corporation after bank failure, Bellingham, Washington, 2010 [6] [7] Charter Bank, 6 branches, Albuquerque, New Mexico, 2011 [8] South Valley Bancorp Inc., Klamath Falls, Oregon, 2012 [9] 51 branches from Bank of America in ...
In August 2000, Washington Mutual announced the pending acquisition of the Houston-based Bank United Corporation with its 155 branch offices, all located in Texas, for $1.49 billion in stock. [ 22 ] [ 23 ] [ 24 ] The acquisition was completed in February 2001.
The bank was acquired by Washington Mutual in 1997 for $6.8 billion. Great Western Bank was held by Great Western Financial Corporation ("GWFC"), a corporation organized under the laws of the state of Delaware that was traded on the New York Stock Exchange under the stock symbol "GWF". [5]
At the time of its acquisition, Dime had 123 branch offices in the New York City area in the states of New York and New Jersey. [20] Washington Mutual subsequently failed in 2008. Dime was included in the assets that were sold to JPMorgan Chase by the Federal Deposit Insurance Corporation after Washington Mutual was seized and placed in ...
Bank of America: 1997 Washington Mutual: Great Western Financial CorporationGreat Western Bank: Washington Mutual: $6.8 billion JPMorgan Chase: 1997 First Union Corporation: Signet Banking Corporation First Union Corporation: Wells Fargo: 1997 National City Corp. First of America Bank National City Corp. PNC Financial Services: 1997 Banc One ...
A wholly owned subsidiary of Bay View Capital Corp., Bay View Bank was liquidated in 2002 and sold off in parts. [1] [2] U.S. Bank bought its retail branch network and home mortgage assets, [3] and Washington Mutual bought its multifamily and commercial real estate assets. [4]
The FDIC was "successor in interest" to Washington Mutual Bank. Chase's purchase of the bank from the FDIC was for Washington Mutual Bank only and it occurred by a Purchase & Assumption Agreement [56] and not "by operation of law" from the receivership. As a result of the takeover, Washington Mutual shareholders lost all their equity. [57]