Washington State Division of Banks
The Division of Banks (DOB) was organized in 1907 and administers Title 30, Title 32, and Title 33 of the Revised Code of Washington. Brad Williamson is the Division Director.
The division regulates more than 90 Washington State-chartered commercial banks, stock savings banks, mutual savings banks, alien banks, savings and loan associations, and independent trust companies.
We charter new banks, business development corporations, trust companies, foreign banks, and savings & loan associations. Also, we authorize new branches and branch closures; and approve mergers & acquisitions. Learn more about the Division of Banks.
What's New
Below you will find what's new from the Division of Banks.
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Semi Annual Assessment Due No Later Than July 31, 2009
Assessment due no later than July 31, 2009, based on assets as of June 30, 2009.
Download Worksheet (Excel) -
DFI Takes Possession Of Westsound Bank
On May 8, 2009, the Washington Department of Financial Institutions (DFI) took possession of Bremerton’s Westsound Bank, citing severe asset problems, significant losses and inadequate capital. Immediately upon taking possession, DFI appointed the Federal Deposit Insurance Corporation (FDIC) receiver. Then the FDIC immediately entered into a purchase and assumption agreement with Kitsap Bank of Port Orchard, Wash.
DFI Announcement & Information For Customers -
Governor Gregoire Signs PDPC Legislation
The Washington State legislature recently passed HB 2061 (PDF)* which was signed by Governor Gregoire on 3/6/09. This legislation was designed to modernize and improve Washington's Public Deposit Protection Program.
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DFI Closes Bank Of Clark County - Umpqua Bank Will Acquire All FDIC Insured Deposits
The Washington Department of Financial Institutions (DFI) closed Bank of Clark County on January 16, 2009, citing inadequate capital and liquidity. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with Umpqua Bank of Roseburg, Ore.
DFI Announcement | Information For Customers
WA PDPC Acts To Recover Public Funds (PDF)*
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FDIC Temporarily Raises Insurance Coverage To $250,000
On October 03, 2008 President Bush signed the Economic Stabilization Act of 2008 which raises the FDIC insurance coverage from $100,000 per account to $250,000 until December 31, 2009. Learn more.
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SHB 2770 Rulemaking - "Disclosure Summary"
Disclosure summary rules and model disclosure summary are now available online for review. Learn more.
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DFI Director Writes Letter To Members Of The FFIEC Regarding The Need For Financial Literacy Outreach Efforts Nationally And In Washington
DFI Director Scott Jarvis recently wrote a letter to members of the Financial Institutions Examinations Council (FFIEC) expressing the need for financial literacy outreach efforts both nationally and in Washington State. View letter and response from members of the FFIEC (PDF)*.
Who We Regulate
The Division of Banks regulates the business activities of the following entities:
- Commercial Banks & Savings Institutions
- Trust Companies & Trust Departments
- Business Development Corporations, Small Business (7a) Lenders, & Agencies of Non-U.S. Banks
Contact Us
Mailing Address:
Department of Financial Institutions
Division of Banks
PO Box 41200
Olympia, WA 98504-1200
Phone Numbers:
Phone: 360-902-8704
Toll Free: (877) RING DFI (746-4334)
TDD: (360) 664-8126
Fax: 360-753-6070
Email: banks@dfi.wa.gov
* This document is a PDF file, and you will need Adobe Acrobat Reader to view it. If you don't already have Acrobat Reader installed on your computer, you may download it for free from Adobe.
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