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Washington Mutual, Inc. (often abbreviated to WaMu) was an American savings bank holding company based in Seattle. It was the parent company of Washington Mutual Bank , which was the largest savings and loan association in the United States until its collapse in 2008.
All of WaMu's deposits were preserved, bank branches were left open, many jobs were saved, and there was "a seamless transition for WaMu's customers the day after the bank was closed."
Killinger was born in Des Moines, Iowa.He received his education at the University of Iowa, from which he received his BBA in 1970 and MBA in 1971. He began his career in the financial services industry in 1972 as an investment analyst with Bankers Life Insurance Company of Nebraska, and moved on to Murphey Favre in 1976 where he rose from a securities analyst to executive vice president and ...
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As a result of this takeover and those of American Savings and Great Western Financial, Washington Mutual became California’s second largest bank. At the time, HF Ahmanson had $55 billion in assets. [9] The acquisition also gave Washington Mutual control over a part of the Ahmanson Ranch, a hotly disputed undeveloped area northwest of Los ...
Of all the wing-tipped execs that have been paraded before government officials investigating the roots of the financial crisis, the former Washington Mutual executives are surely among the most ...
On that day, it was announced that the FDIC was considering seizing the bank, causing its stock price to plunge another 43% to $3.50. [80] [82] After falling another 42% in after hours trading, the FDIC confirmed its imminent takeover of the bank. [83] [84] In 2023, the cumulative decrease in stock price was 97%. [85]
I live in Portland, Oregon, and a lot of my friends have accounts with Washington Mutual, given its roots in the Pacific Northwest (WaMu was founded in Seattle over 100 years ago). Most of my ...