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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.
1201 Third Avenue (formerly Washington Mutual Tower) is a 235.31-meter (772.0 ft), 55-story skyscraper in Downtown Seattle, in the U.S. state of Washington.It is the third-tallest building in the city, the eighth-tallest on the West Coast of the United States, and the 97th-tallest in the United States.
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The newly formed company made its first home mortgage loan on the West Coast on February 10, 1890. It changed its name to Washington Savings and Loan Association on June 25, 1908. By September 12, 1917, it was operating under the name Washington Mutual Savings Bank. [3]
In 1998, Seattle-based thrift Washington Mutual (WaMu) purchased HF Ahmanson and its Home Savings unit for $10 billion. 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]
Kerry Killinger (born June 6, 1949) is an American businessman and author. He is founder and CEO of Crescent Capital Associates, [1] and previously served as chairman and chief executive officer of Washington Mutual from 1990 until 2008.
On September 25, 2008, Washington Mutual failed, and its assets and accounts were sold to JPMorgan Chase by the Federal Deposit Insurance Corporation. On June 1, 2009, the building was renamed Chase Center. [4] On September 9, 2009, the building was purchased by Northwestern Mutual of Milwaukee.
Washington Mutual subsequently failed in 2008. Dime was included in the assets that were sold to JPMorgan Chase by the Federal Deposit Insurance Corporation after Washington Mutual was seized and placed in receivership. [21] In 2016, Charney Companies purchased the bank's original site for $80 million. [22]