Bank Failure
Washington First International Bank
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Closed June 11, 2010 · Seattle, WA · FDIC Cert #32955.
- Closing date
- June 11, 2010
- Headquarters
- Seattle, WA
- FDIC Certificate
- 32955
- Total assets at closing
- $520.9M
- Total deposits at closing
- $441.4M
- Estimated loss to the insurance fund
- $95.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- East West Bank
Context
On June 11, 2010, regulators closed Washington First International Bank, headquartered in Seattle, WA. At closing, the institution held approximately $520.9M in assets and $441.4M in deposits. The FDIC record names East West Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $95.2M.
By assets at closing this is the 364th largest of the 3,526 bank failures in the FDIC record, and the 41st of 157 in 2010. 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 Washington First International Bank fail?
Washington First International Bank was closed by regulators on June 11, 2010.
Who acquired Washington First International Bank?
The FDIC record names East West Bank as the acquiring institution in the resolution of Washington First International Bank.
How big was Washington First International Bank when it failed?
Washington First International Bank had approximately $520.9M in total assets and $441.4M in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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