Professional Documents
Culture Documents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2005
Commission File Number 1-14667
General
Washington Mutual, Inc. is a Washington State corporation. It owns two federal savings associations as well as
numerous nonbank subsidiaries. Washington Mutual, Inc. is a savings and loan holding company. As a savings and
loan holding company, Washington Mutual, Inc. is subject to regulation by the Office of Thrift Supervision (the
"OTS").
The federal savings associations are subject to extensive regulation and examination by the OTS_ their primary
federal regulator. as well as the Federal Deposit Insurance Corporation ("FDIC"). On January 1, 2005, the
Company's state savinggbank, former Washington Mutual Bank merged into Washington Mutual Bank, FA, and
'ceased to exist; subkequently, Washington Mutual Bank, FA changed its name to Washington Mutual Bank
("WMB"). Consequently, the Company no longer owns a state savings bank that is subject to regulation and
supervision by the Director of Financial Institutions of the State of Washington. Its nonbank financial subsidiaries
are also subject to various federal and state laws and regulations.
Both of the Company's banking subsidiaries are under the common control of Washington Mutual, Inc. and are
insured by the FDIC. If an insured institution fails, claims for administrative expenses of the receiver and for
deposits in U.S. branches (including claims of the FDIC as subrogee of the failed institution) have priority over the
claims of general unsecured creditors. In addition, the FDIC has
authority to require either of the Company's banking subsidiaries to reimburse it for losses it incurs in connection
with the failure of the other banking subsidiary or with the FDIC's provision of assistance to a Washington Mutual
banking subsidiary that is in danger of failure.
Back to Search Bank Find
History of Washington Mutual Bank, FA, Stockton, California (FDIC Cert: 32633)
Note: This institution is currently part of JPMorgan Chase Bank, National Association,
Columbus, Ohio (FDIC Cert: 628)
Date Event
1 12/27/1988 Institution established. Original name: American Savings Bank, FA (
2 6/14/1990 Changed name to American Savings Bank, F.A. ( ).
3 9/11/1991 Acquired American Savings Bank, F.S.B. ( ) in Huntington Beach, California.
4 9/13/1991 Acquired Columbia Savings And Loan Association, F.A. (33350 in Beverly Hills,
California.
5 3/20/1992 Acquired Far West Savings And Loan Association, F.A. (333 - ') in Newport
Beach, California.
6 4/10/1992 Acquired Valley Federal Savings And Loan Association (11 . ) in Van Nuys,
California.
7 6/3/1994 Acquired Encino Savings Bank, Fsb ( 484) in Encino, California as part of a
government assisted transaction.
8 10/1/1997 Changed name to Washington Mutual Bank, FA (
7L/tc
-
rnceArAlaw-6
• •
History of Washington Mutual Bank, Stockton, California (FDIC Cert: 32633)
Note: This institution is currently part of JPMorgan Chase Bank, National Association,
Columbus, Ohio (FDIC Cert: 628)
NV CALIFORNIA
http://www2.fdic.gov/idasp/main_bankfind.asp
Date Event
1 12/27/1988 Institution established. Original name: American Savings Bank, FA (
2 6/14/1990 Changed name to American Savings Bank, F.A. (
3 9/11/1991 Acquired American Savings Bank, F.S.B. ( ) in Huntington Beach, California.
4 9/13/1991 Acquired Columbia Savings And Loan Association, F.A. ( _It) in Beverly Hills,
California.
5 3/20/1992 Acquired Far West Savings And Loan Association, F.A. (33324) in Newport
Beach, California.
6 4/10/1992 Acquired Valley Federal Savings And Loan Association ( ) in Van Nuys,
California.
7 6/3/1994 Acquired Encino Savings Bank, Fsb (' '484) in Encino, California as part of a
government assisted transaction.
8 10/1/1997 Changed name to Washington Mutual Bank, FA ( ).
9 10/1/1997 Acquired Great Western Bank, A Fsb ( ) in Chatsworth, California.
10 10/3/1998 Acquired Home Savings Of America, Fsb ( ) in Irwindale, California.
11 2/13/2001 Acquired Bank United ( ) in Houston, Texas.
12 1/7/2002 Acquired The Dime Savings Bank Of New York, Fsb ( ) in New York City,
New York.
13 1/1/2005 Acquired Washington Mutual Bank ( ) in Seattle, Washington.
14 4/4/2005 Changed name to Washington Mutual Bank ( 11 P 1 ').
15 9/23/2005 Moved bank headquarters from Stockton, California to Henderson, Nevada.
16 10/1/2005 Acquired Providian National Bank ( 252) in Tilton, New Hampshire.
17 3/1/2006 Reorganized.
18 10/1/2006 Acquired Commercial Capital Bank, Fsb ( ) in Irvine, California.
19 9/25/2008 Merged with government financial assistance and subsequently operated as
part of JPMorgan Chase Bank, National Association ( ) in Columbus,
Ohio.
FDIC: Confirmation & Report Selection http://www2.fd ic.gov/idasp/confirmation.asp?inCert1=32633
1110 •
Information Gateway:
More Information
Bank Holding Company Ownership and Affiliates not
0 Current List of Offices not available
available
0 Compare to Peer Group(s) 0 Regional Economic Conditions (FDIC RECON)
FFIEC Call/TFR Report 6/30/2008 Latest
0 Organization Hierarchy from the Federal Reserve System
Available
(= FFIEC UBPR not available 0 OTS CRA ratings
0 FDIC/OTS Summary of Deposits 0 Consumer Assistance from Primary Federal Regulator
Freedom of Information Act (FO LA) Service Center I FDIC Open Government Webpage I No FEAR Act Data
I of 1 3/8/2011 1:28 PM
FDIC: Financial Report 40
1 of 2 3/8/2011 1:45 PM
FDIC: Financial Report 40
111
•
Office of the Comptroller of the
• http://www2.fdic.gov/idasp/rpt_F i nanc i a l . as p
3/8/2011 1:45 PM
2 of 2
FDIC: Your Bank at a Glance • •
http://w w w2.fdic.gov/i dasp/frmBankAtGlanc e. asp?inCert1=32633 &S...
The financial institution about which you have inquired, Washington Mutual Bank, FA (FDIC Cert.
32633), is no longer doing business under that name.
The active successor institution is JPMorgan Chase Bank, National Association (FDIC Cert: 628).
Contact the FDIC about - Washington Mutual Bank, FA or JPMorgan Chase Bank National Association.
Freedom of Information Act (FOIA) Service Center I FDIC Open Gosemmeet Webpage I No FEAR Act Data
1 of 1 3/8/2011 1:31 PM
Back to Search Bank Find
History of Washington Mutual Bank Fsb, Lake Oswego, Oregon (FDIC Cert: 33891)
Note: This institution is currently part of JPMorgan Chase Bank, National Association,
Columbus, Ohio (FDIC Cert: 628)
fAW-1
Date Event
1 4/15/1994 Institution established. Original name: Washington Mutual Federal Savings Bank
)
2 5/1/1995 Acquired Olympus Bank A Federal Savings Bank ( ) in Salt Lake City, Utah.
3 12/1/1995 Changed name to Washington Mutual Bank Fsb ( 11).
4 11/30/1996 Acquired Utah Federal Savings Bank ( ) in Ogden, Utah.
5 4/27/2007 Moved bank headquarters from Lake Oswego, Oregon to Park City, Utah.
6 9/25/2008 Merged into and subsequently operated as part of JPMorgan Chase Bank,
National Association in Columbus, Ohio ( )
FDIC: Press Releases - PR-85-2008 9/25/2008 http://www.fdic.gov/news/news/press/2008/pr08085.html
110 •
El 0 CiEll
Advanced Search
Search FDIC
Each depositor insured to at least $250,000 per insured bank
Home I Deposit Insurance I Consumer Protection I Industry Analysis I Regulations & Examinations I Asset Sales l News & Events I
Press Releases Online Press Room Conferences & Ewants Financial Institution Letters Special Alerts Letters to the Editor/Opinion E6ton4s Speeches & Testimony
Press Releases
Media Contact:
FOR IMMEDIATE RELEASE
Andrew Gray (202) 898-7192
September 25, 2008
an uravAtUiLgo v
JPMorgan Chase acquired the banking operations of Washington Mutual Bank in a transaction facilitated
by the Federal Deposit Insurance Corporation. All depositors are fully protected and there will be no cost
to the Deposit Insurance Fund.
"For all depositors and other customers of Washington Mutual Bank, this is simply a combination of two
banks," said FDIC Chairman Sheila C. Bair, "For bank customers, it will be a seamless transition. There
will be no interruption in services and bank customers should expect business as usual come Friday
morning."
JPMorgan Chase acquired the assets, assumed the qualified financial contracts and made a payment of
$1.9 billion. Claims by equity. subordinated and senior debt holders were not acquired.
"WaMu's balance sheet and the payment paid by JPMorgan Chase allowed a transaction in which neither
the uninsured depositors nor the insurance fund absorbed any losses." Bair said.
Washington Mutual Bank also has a subsidiary, Washington Mutual FSB, Park City, Utah. They have
combined assets of $307 billion and total deposits of $188 billion.
Thursday evening, Washington Mutual was closed by the Office of Thrift Supervision and the FDIC
named receiver. WaMu customers with questions should call their normal banking representative, service
center, 1-800-788-7000 or visit WaMU. co - The FDIC's consumer hotline is 1-877-ASK-FDIC
(1-877-275-3342) or visit www.f
cm fic.
Additional Notices
###
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the
nation's banking system. The FDIC insures deposits at the nation's 8,451 banks and savings associations
and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions
fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov by subscription
electronically (go to ) and may also be obtained through the
FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-85-2008
I of 2 3/8/2011 2:55 PM
• •
Return Address:
Washington Mutual Bank
Office of the Corporate Secretary
1301 2nd Ave., WMC3501
Seattle, WA 98101
111001011111111
20081003000790 AFF 44.00
COOK
PAGE-001 OF 003
10/03/2008 13:11
KING COUNTY, WA
3. 4.
Reference Number(s) of Documents assigned or released:
Additional reference #'s on page of document
Grantor(s) Exactly as name(s) appear on document
Washington Mutual Bank, formerly known
1.as Washington Mutual Bank, FA
Federal Deposit Insurance
2.Corporation
Additional names on page of document.
Grantee(s) Exactly as name(s) appear on document
1.JPMorgan Chase Bank, National Association
2.
Additional names on page of document.
Legal description (abbreviated: i.e. lot, block, plat or section, township, range)
The Auditor/Recorder will rely on the information provided on this form. The staff will not read the document
to verify the accuracy or completeness of the indexing information provided herein.
"I am signing below and paying an additional $50 recording fee (as provided in RCW 36.18.010 and
referred to as an emergency nonstandard document), because this document does not meet margin and
formatting requirements. Furthermore, I hereby understand that the recording process may cover up or
otherwise obscure some part of the text of the original document as a result of this request."
AFFIDAVIT OF THE
FEDERAL DEPOSIT INSURANCE CORPORATION
I, Robert C. Schoppe, having been first duly sworn, hereby make this Affidavit and say
that:
5. As a result, on September 25, 2008, JPMorgan Chase became the owner of the
loans and loan commitments of Washington Mutual by operation of law.
/- AO_
P nt ert C. oppe
Tit e: Receiver In Charge for FDIC as
Receiver of Washington Mutual Bank
DOCSSEA/186745. vl
•
NOTARY'S ACKNOWLEDGMENT
STATE OF WASHINGTON
) SS.
COUNTY OF KING
I certify that I know or have satisfactory evidence that Robert C. Schoppe is the
person who appeared before me, and said person acknowledged that he signed this
instrument, on oath stated that he was authorized to execute the instrument and
acknowledged it as the Receiver In Charge of the Federal Deposit Insurance Corporation,
as Receiver of Washington Mutual Bank to be the free and voluntary act of such party for
the uses and purposes mentioned therein.
DOCSSEA/186745.v1
Business & Technology I Washington Mutual timeline I Seattle Times... 11 p://seattletimes.nwsource.com/html/businesstechnolog/20145281...
1997 98: Washington Mutual buys Great Western Financial and H.F. Ahmanson for a
-
combined $13.6 billion, becoming a West Coast power with their strong California presence.
1999: The company buys subprime lender Long Beach Financial, which writes mortgages for
people with less-than-stellar credit. Killinger calls it "an important extension of Washington
Mutual's core strategy to be one of the nation's leading consumer-oriented financial-services
institutions."
2001:Acquisition of Dime Bancorp gives Washington Mutual a big New York presence. The
company also buys Fleet Mortgage, becoming for a time the nation's No. 1 mortgage originator.
2005: Washington Mutual buys credit-card issuer Providian Financial.
2006: Washington Mutual eliminates more than lo,000 jobs to cut costs as mortgage
originations slow.
April 2007: WaMu reports a 20 percent decline in first-quarter profit, beginning a year of
increasing difficulties. Killinger warns of "unprecedented deterioration" in the subprime-
mortgage market but predicts WaMu's home-lending unit will become profitable again by
year's end.
December 2007: WaMu shares hit an 11-year low after it cuts its dividend by 73 percent. The
company says it's cooperating with an Securities and Exchange Commission inquiry stemming
3/18/2011 6:01 PM
1 of 2
Business & Technology I Washington Mutual timeline I Seattle Times... http://seattletimes.nwsource.com/htrnl/businesstechnology/2014528
from allegations by N.Y. Attorney General Andrew Cuomo that it made mortgage loans based
on improperly inflated home appraisals.
Jan. 17, 2008: WaMu posts its first annual loss since Ronald Reagan was president, due to
fourth-quarter red ink of $1.87 billion.
April 8, 2008: An investor group led by David Bonderman's TPG pumps $7.2 billion into
WaMu, getting just over 5o percent of the company at $8.75 a share. WaMu says it will close its
approximately 186 remaining stand-alone home-loan offices, laying off 2,60o to 3,000
workers.
June 2, 2008: Kerry Killinger is removed as WaMu chairman after 17 years, replaced by
board member Stephen Frank. Killinger remains CEO.
June 17, 2008: WaMu says it is cutting 1,200 more jobs, including 260 at its downtown
Seattle headquarters.
July 14, 2008: Investors worried about the financial sector's weakness send WaMu shares
down 35 percent to $3.23, a level not seen since February 1991.
July 22, 2008: WaMu posts a $3.3 billion loss for the second quarter.
Sept. 7, 2008: CEO Killinger is forced out, replaced by Alan Fishman, former chief executive
of Independence Community Bank of New York. U.S. government takes control of mortgage
giants Fannie Mae and Freddie Mac.
Sept. 14-19, 2008: Lehman Brothers files for bankruptcy protection, Merrill Lynch is rescued
by Bank of America and the federal government takes over insurer American International
Group. WaMu's shares sink to $2.01.
Sept. 25, 2008: After massive withdrawals by depositors, regulators seize WaMu and arrange
a sale of its assets and deposits to JP Morgan Chase in the largest bank failure in U.S. history.
December 2008: Chase begins laying off 8o percent of WaMu's local workforce and
consolidating the 800 remaining office workers into the WaMu Center building.
March 12, 2010: The Washington Mutual Inc. holding company, in bankruptcy since WaMu
failed, reaches tentative agreement with JPMorgan Chase & Co. and Federal Deposit Insurance
Corporation (FDIC) over some $4 billion in disputed assets.
April 13, 2010: Killinger, in first public comments since being ousted, tells Senate panel that
regulators unfairly seized WaMu's banking operations before its turnaround was complete.
Feb. 8, 2011: Court receives new bankruptcy plan for Washington Mutual Inc., after judge's
January ruling that the prior plan's settlement with FDIC and JPMorgan was fair and
reasonable but it granted too much protection from legal liabilities to the company's officers,
directors and others.
March 17, FDIC sues Killinger, former chief operating officer Stephen Rotella and
2011:
David Schneider, former president of WaMu's Home Loans division, seeking more than $900
million.
Source: Washington Mutual, The Seattle Times
2 of 2 3/18/2011 6:01 PM