Washington Mutual

E64195

bank holding company defunct bank savings and loan association

Washington Mutual was a former major U.S. savings and loan association that became the largest bank failure in American history during the 2008 financial crisis.

Aliases (2)

Washington Mutual Bank, F.A. ×1
Washington Mutual, Inc. ×1

Statements (49)

Predicate	Object
instanceOf	bank holding company → defunct bank → savings and loan association →
acquiredBy	FDIC (as receiver, for resolution) → JPMorgan Chase →
acquisitionDate	2008-09-25 →
acquisitionPrice	1900000000 USD →
bankruptcyFiling	Chapter 11 bankruptcy →
bankruptcyFilingDate	2008-09-26 →
causeOf	large mortgage-related losses →
country	United States →
dateOfBankFailure	2008-09-25 →
dissolved	2008 →
fate	assets sold to JPMorgan Chase → holding company entered bankruptcy →
formerName	Washington National Building Loan and Investment Association →
foundedBy	C. J. Smith →
hasSlogan	The Power of Yes →
hasSubsidiary	Washington Mutual Bank, F.A. → Washington Mutual, Inc. →
headquartersLocation	Seattle, Washington →
inception	1889 →
industry	banking → financial services →
keyPerson	Alan H. Fishman → Kerry Killinger →
legalForm	public company →
locatedInTheAdministrativeTerritorialEntity	Washington (state) →
notableEvent	largest bank failure in U.S. history →
notableFor	aggressive expansion into subprime mortgages → rapid growth in mortgage lending before 2008 →
numberOfBranches	over 2200 →
numberOfEmployees	over 40000 →
partOf	subprime mortgage crisis →
positionHeld	Alan H. Fishman – Chief Executive Officer (final days) → Kerry Killinger – Chief Executive Officer →
product	commercial banking services → consumer banking → credit cards → mortgage loans → savings accounts →
reasonForDissolution	insolvency during the 2008 financial crisis → seizure by U.S. federal regulators →
regulator	Federal Deposit Insurance Corporation → Office of Thrift Supervision →
serviceArea	United States →
stockExchange	New York Stock Exchange →
tickerSymbol	WM →
tradedAs	NYSE:WM →

Referenced by (3)

Subject (surface form when different)	Predicate
Washington Mutual ("Washington Mutual Bank, F.A.") → Washington Mutual ("Washington Mutual, Inc.") →	hasSubsidiary
JPMorgan Chase →	precededBy