Washington Mutual

E64195

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.

All labels observed (7)

How this entity was disambiguated

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.
linked to: Washington Mutual

Washington Mutual, Inc.
linked to: Washington Mutual
headquartersLocation Seattle, Washington
inception 1889
industry banking
financial services
keyPerson Alan H. Fishman
Kerry Killinger
legalForm public company
locatedInTheAdministrativeTerritorialEntity Washington (state)
linked to: Washington
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

How these facts were elicited

Referenced by (20)

Full triples — surface form annotated when it differs from this entity's canonical label.

JPMorgan Chase precededBy Washington Mutual
Washington Mutual hasSubsidiary Washington Mutual Bank, F.A.
linked to: Washington Mutual
Washington Mutual hasSubsidiary Washington Mutual, Inc.
linked to: Washington Mutual
C. J. Smith founded Washington Mutual
Washington Mutual alsoKnownAs WaMu
subject linked to: C. J. Smith
linked to: Washington Mutual
Washington National Building Loan and Investment Association laterBecame Washington Mutual Savings Bank
linked to: Washington Mutual
Washington National Building Loan and Investment Association hasSuccessorOrganization Washington Mutual Bank
linked to: Washington Mutual
Washington Mutual hadSubsidiary Washington Mutual Bank
subject linked to: NYSE:WM
linked to: Washington Mutual
Washington Mutual hadSubsidiary Washington Mutual Bank, F.A.
subject linked to: NYSE:WM
linked to: Washington Mutual
Washington Mutual formerName Washington Mutual Savings Bank
subject linked to: NYSE:WM
linked to: Washington Mutual
Kerry Killinger employer Washington Mutual
Kerry Killinger associatedWithOrganization Washington Mutual Bank
linked to: Washington Mutual
Alan H. Fishman employer Washington Mutual
The Power of Yes usedBy Washington Mutual
The Power of Yes associatedOrganization Washington Mutual Bank
linked to: Washington Mutual
The Power of Yes sloganFor Washington Mutual brand
linked to: Washington Mutual
Kerry Killinger employer Washington Mutual
Kerry Killinger affiliatedWith Washington Mutual Bank
linked to: Washington Mutual