Washington Mutual, Inc.
News and overview for Washington Mutual, Inc.
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Company Overview
| Company: | Washington Mutual, Inc. |
|---|---|
| Industry: | Superregional Banks |
| Website: | http://www.wamu.com |
Washington Mutual (WaMu) offers consumer and commercial banking services through about 2,200 bank branches in the West, New York, Connecticut, and major US metropolitan areas. Once one of the largest originators and servicers of residential mortgages in the country, WaMu was brought low by its mortgage operations. The bank exited the subprime business after the 2007 housing bust and subsequent epidemic of loan defaults, but it was too late. In the largest bank collapse in US history, WaMu failed in 2008 and was acquired by JPMorgan Chase for $1.9 billion. JPMorgan plans to eventually phase out the WaMu brand.
Key Numbers
| Sales in U.S. Dollars (mil.) | 25,531 (2008) |
|---|---|
| One-year % Growth in Sales | 0.0 (2008) |
| Net Income in U.S. Dollars (mil.) | 0 () |
| One-year % Growth in Net Income | 0.0 () |
| Number of Employees | 49,403 (2008) |
| One-year % Growth in Number of Employees | 0.0 (2008) |
| Fiscal Year-End | December |