Washington Mutual Company Description
In Seattle, they know all about saving for a rainy day, especially at Washington Mutual (WaMu). The largest thrift in the US, WaMu offers consumer and commercial banking services through about 2,260 bank branches in the West, New York, and Connecticut, and another 500 or so loan and administrative offices nationwide. Once one of the largest originators and servicers of residential mortgages in the US, WaMu was brought low by its mortgage business. The bank exited the mortgage business after the 2007 housing bust and subsequent epidemic of loan defaults, but it was too late. WaMu failed in 2008 and was acquired by JPMorgan Chase for $1.9 billion.
View the Comprehensive Company Description for Washington Mutual
The Company Description provides a historical perspective of Washington Mutual's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Washington Mutual's evolution in the marketplace.
