Division of Banks News Archive
News archive for the Washington State Division of Banks.
For current news, please see the Division of Banks homepage.
Archive
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2011 Bank Summary Bulletin Now Available
The 2011 bank summary bulletin is now available.
2011 Bank Summary (PDF)* -
Semi Annual Assessment Due No Later Than January 31, 2012
Assessment due no later than January 31, 2012 based on assets as of December 30, 2011.
Download Assessment Worksheet (Excel) -
Division of Banks Opinions Search Engine
You can now search for opinions (2003-current) from the Washington Division of Banks using our new opinions search engine and index.
Search Opinions -
DFI Receives CSBS Certificates of Accreditation
The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) announced that DFI has received certificates of accreditation for both their bank and mortgage regulatory programs. These accreditations certify that Washington DFI maintains the standards and practices in state banking and mortgage supervision set by the CSBS Accreditation Program and the CSBS and AARMR Mortgage Accreditation Program.
Announcement from DFI -
Columbia Bank Purchases the Bank of Whitman
DFI closed the Bank of Whitman on August 5, 2011. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with Columbia Bank of Tacoma. Bank of Whitman depositors will automatically become depositors of Columbia Bank. However, 12 of Bank of Whitman's 20 branches will close. See the link to our announcement below for more information.
DFI Announcement and Information for Bank of Whitman Customers -
Community Banks Receive Funding to Help Small Businesses Access Capital, Create New Jobs
The U.S. Department of the Treasury has announced that community banks, including U&I Financial Corp of Lynnwood, Peoples Bancorp of Lynnwood, and Puget Sound Bank of Bellevue have received capital provided by the Small Business Lending Fund (SBLF). The SBLF, which was established as part of the Small Business Jobs Act that President Obama signed into law, encourages community banks to increase their lending to small businesses, helping those companies expand their operations and create new jobs.
About the Small Business Lending Fund -
Richard M. Riccobono Appointed As Director Of Banks
DFI is pleased to announce the appointment of Richard M. Riccobono as the new Director of Banks.
Announcement from DFI -
OCC Proposes Rule to Implement Provisions of the Dodd-Frank Act
The Office of the Comptroller of the Currency on May 25, 2011 issued a proposed rule implementing several provisions of the Dodd-Frank Act, including the transfer of functions from the Office of Thrift Supervision and changes to national bank preemption and the OCC's visitorial authority.
Announcement from OCC -
Columbia Bank Purchases First Heritage Bank
DFI closed First Heritage Bank on May 27, 2011. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with Columbia Bank of Tacoma. First Heritage Bank depositors will automatically become depositors of Columbia Bank.
DFI Announcement and Information for First Heritage Bank Customers -
Columbia Bank Purchases Summit Bank
DFI closed Summit Bank on May 20, 2011. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with Columbia Bank of Tacoma. Summit Bank depositors will automatically become depositors of Columbia Bank.
DFI Announcement and Information for Summit Bank Customers -
FAQs Regarding the Licensing of Depository Institution Subsidiaries and their Employees
Answers to frequently asked questions regarding the licensing of depository institution subsidiaries and their employees.
Answers to Frequently Asked Questions -
DFI Submits Response To Puget Sound Business Journal Article
DFI has submitted a written response to the 4/01/2011 Puget Sound Business Journal story "Do we still need the state banking regulator?"
DFI's Response To "Do We Still Need The State Banking Regulator?" (PDF)* -
SBA Launches Temporary Program for Commercial Real Estate Refinancing
Small businesses facing maturity of commercial mortgages or balloon payments before Dec. 31, 2012, may be able to refinance their mortgage debt with a 504 loan from the U.S. Small Business Administration under a new, temporary program announced today.
Information from SBA -
Start of Federal Registration for Mortgage Loan Originators
Federal registration of Mortgage Loan Originators began on January 31, 2011. Under the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) and the agencies' final rules, residential mortgage loan originators employed by banks, savings associations, credit unions, or Farm Credit System institutions must register with the registry, obtain a unique identifier from the registry, and maintain their registrations. The initial registration period ends on July 29, 2011.
More Information from the FDIC -
FDIC Announces Hotline for Small Businesses Regarding Availability of Credit
The FDIC has formed a new dedicated, toll-free hotline for small businesses. The hotline allows small business owners to make inquiries with FDIC officials or to register concerns about the availability of credit.
Information about the Hotline - Heritage Bank Purchases Pierce Commercial Bank
DFI closed Pierce Commercial Bank on November 5, 2010. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with Heritage Bank of Olympia. Pierce Commercial Bank depositors will automatically become depositors of Heritage Bank.
DFI Announcement and Information for Pierce Commercial Bank Customers - GBC International Bank Purchases Shoreline Bank
DFI closed Shoreline Bank on October 1, 2010. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with GBC International Bank of Los Angeles. Shoreline Bank depositors will automatically become depositors of GBC International Bank.
DFI Announcement and Information for Shoreline Bank Customers - DFI, FDIC Lift Cease & Desist Order Against Sterling Savings Bank
DFI and the FDIC have terminated the cease and desist order against Sterling Savings Bank put in place October 09, 2009, acknowledging Sterling’s successful efforts to recapitalize and meet specific operational requirements.
DFI Announcement of Termination of Cease and Desist Against Sterling - Whidbey Island Bank Purchases North County Bank
DFI closed North County Bank on September 24, 2010. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with Whidbey Island Bank. North County Bank depositors will automatically become depositors of Whidbey Island Bank.
DFI Announcement and Information for North County Bank Customers - Heritage Bank Purchases Cowlitz Bank
DFI closed Cowlitz Bank on July 30, 2010. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with Heritage Bank. Cowlitz Bank depositors will automatically become depositors of Heritage Bank.
DFI Announcement and Information for Cowlitz Bank Customers - East West Bank Purchases Washington First International Bank
DFI closed Washington First International Bank on June 11, 2010. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with East West Bank. Washington First International Bank depositors will automatically become depositors of East West Bank.
DFI Announcement and Information for Washington First International Bank Customers - Union Bank, National Association Purchases Frontier Bank
DFI closed Frontier Bank on April 30, 2010. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with Union Bank, NA headquartered in San Francisco.
DFI Announcement and Information for Frontier Bank Customers - Whidbey Island Bank Purchases City Bank
DFI closed City Bank on April 16, 2010. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with Whidbey Island Bank.
DFI Announcement and Information for City Bank Customers - Umpqua Bank Purchases Rainier Pacific Savings Bank
DFI closed Rainier Pacific Savings Bank on February 26, 2010. 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, Oregon.
DFI Announcement and Information for Rainier Pacific Customers - Columbia State Bank Purchases American Marine Bank
DFI closed American Marine Bank on January 29, 2010. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with Columbia State Bank of Tacoma Washington.
DFI Announcement and Information for American Marine Bank Customers - Umpqua Bank Purchases Evergreen Bank
DFI closed Evergreen Bank on January 22, 2010. 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 Oregon.
DFI Announcement and Information for Evergreen Bank Customers - Washington Federal Purchases Horizon Bank
DFI closed Horizon Bank on January 08, 2010. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement with Washington Federal.
DFI Announcement and Information for Horizon Bank Customers - First-Citizens Bank & Trust Company Of Raleigh, NC Purchases Venture Bank
DFI closed Venture Bank on September 11, 2009. Immediately following the closure, the Federal Deposit of Insurance Corporation (FDIC) took receivership. The FDIC entered into a purchase and assumption agreement First-Citizens Bank & Trust Company Raleigh, NC.
DFI Announcement & Information - FAQs For Bank Business Loan Customers In Turbulent Times
DFI answers some of the frequently asked questions business loan customers may have about loans and credit lines.
View FAQs - 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
- 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)*
* 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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