THE LIBERTY BANK OF SEATTLE Failed 1988
What happened
THE LIBERTY BANK OF SEATTLE of SEATTLE, WA was closed on 1988-06-17. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to EMERALD CITY BANK (SEATTLE, WA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1776
- FDIC Certificate
- 19817
- FDIC FIN
- 2831
- Bank name
- THE LIBERTY BANK OF SEATTLE
- Location
- SEATTLE, WA
- Failure date
- 1988-06-17
- FDIC resolution date
- 1988-06-17
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $8M
- Deposits at failure
- $21M
- Assets at failure
- $19M
- Acquiring bank
- EMERALD CITY BANK (SEATTLE, WA)