Bank Failure
Washington Federal Bank for Savings
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Closed December 15, 2017 · Chicago, IL · FDIC Cert #30570.
- Closing date
- December 15, 2017
- Headquarters
- Chicago, IL
- FDIC Certificate
- 30570
- Total assets at closing
- $166.3M
- Total deposits at closing
- $144.0M
- Estimated loss to the insurance fund
- $75.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Royal Savings Bank
Context
On December 15, 2017, regulators closed Washington Federal Bank for Savings, headquartered in Chicago, IL. At closing, the institution held approximately $166.3M in assets and $144.0M in deposits. The FDIC record names Royal Savings Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $75.0M.
By assets at closing this is the 873rd largest of the 3,526 bank failures in the FDIC record, and the 4th of 8 in 2017. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Washington Federal Bank for Savings fail?
Washington Federal Bank for Savings was closed by regulators on December 15, 2017.
Who acquired Washington Federal Bank for Savings?
The FDIC record names Royal Savings Bank as the acquiring institution in the resolution of Washington Federal Bank for Savings.
How big was Washington Federal Bank for Savings when it failed?
Washington Federal Bank for Savings had approximately $166.3M in total assets and $144.0M in deposits at the time of failure.
Other failures in 2017
| Date | Bank | Assets |
|---|---|---|
| Oct 13, 2017 | The Farmers and Merchants State Bank of Argonia | $33.0M |
| May 26, 2017 | Fayette County Bank | $34.4M |
| May 5, 2017 | Guaranty Bank | $1.03B |
| Apr 28, 2017 | First NBC Bank | $3.33B |
| Mar 3, 2017 | Proficio Bank | $68.2M |
| Jan 27, 2017 | Seaway Bank and Trust Company | $297.8M |
| Jan 13, 2017 | Harvest Community Bank | $124.2M |
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