Bank Failure
Washington Mutual Bank
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Closed September 25, 2008 · Henderson, NV · FDIC Cert #32633.
- Closing date
- September 25, 2008
- Headquarters
- Henderson, NV
- FDIC Certificate
- 32633
- Total assets at closing
- $307.02B
- Total deposits at closing
- $188.26B
- Estimated loss to the insurance fund
- $0 (the FDIC reported no cost to the Deposit Insurance Fund)
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- JPMorgan Chase Bank, N.A.
Context
On September 25, 2008, regulators closed Washington Mutual Bank, headquartered in Henderson, NV. At closing, the institution held approximately $307.02B in assets and $188.26B in deposits. The FDIC record names JPMorgan Chase Bank, N.A. as the acquiring institution in the resolution. The FDIC reported no cost to the Deposit Insurance Fund.
By assets at closing this is the largest of the 3,526 bank failures in the FDIC record, and the 1st of 25 in 2008. 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 Mutual Bank fail?
Washington Mutual Bank was closed by regulators on September 25, 2008.
Who acquired Washington Mutual Bank?
The FDIC record names JPMorgan Chase Bank, N.A. as the acquiring institution in the resolution of Washington Mutual Bank.
How big was Washington Mutual Bank when it failed?
Washington Mutual Bank had approximately $307.02B in total assets and $188.26B in deposits at the time of failure.
Other failures in 2008
| Date | Bank | Assets |
|---|---|---|
| Dec 12, 2008 | Haven Trust Bank | $559.6M |
| Dec 12, 2008 | Sanderson State Bank | $38.2M |
| Dec 5, 2008 | First Georgia Community Bank | $256.4M |
| Nov 21, 2008 | Downey Savings and Loan Association, F.A. | $12.78B |
| Nov 21, 2008 | PFF Bank & Trust | $3.72B |
| Nov 21, 2008 | The Community Bank | $634.9M |
| Nov 7, 2008 | Franklin Bank, SSB | $5.09B |
| Nov 7, 2008 | Security Pacific Bank | $528.0M |
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