Bank Failure
Bank of Whitman
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Closed August 5, 2011 · Colfax, WA · FDIC Cert #22528.
- Closing date
- August 5, 2011
- Headquarters
- Colfax, WA
- FDIC Certificate
- 22528
- Total assets at closing
- $548.6M
- Total deposits at closing
- $515.7M
- Estimated loss to the insurance fund
- $100.9M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Columbia State Bank
Context
On August 5, 2011, regulators closed Bank of Whitman, headquartered in Colfax, WA. At closing, the institution held approximately $548.6M in assets and $515.7M in deposits. The FDIC record names Columbia State Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $100.9M.
By assets at closing this is the 344th largest of the 3,526 bank failures in the FDIC record, and the 17th of 92 in 2011. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Bank of Whitman fail?
Bank of Whitman was closed by regulators on August 5, 2011.
Who acquired Bank of Whitman?
The FDIC record names Columbia State Bank as the acquiring institution in the resolution of Bank of Whitman.
How big was Bank of Whitman when it failed?
Bank of Whitman had approximately $548.6M in total assets and $515.7M in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
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