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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Failed Bank Information for Summit Bank, Burlington, WA

On Friday, May 20, 2011, Summit Bank was closed by the Washington State Department of Financial Institutions. The FDIC was named Receiver. Columbia State Bank, Tacoma, WA acquired all deposit accounts.

The FDIC as Receiver for Summit Bank, Burlington, WA has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on June 15, 2017 and has made all dividend distributions required by law.

Effective October 1, 2017, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status

TERMINATED

Notice of Termination

Effective Date: October 1, 2017


Notice of Intent to Terminate

Publication Date: June 15, 2017

Dividend Information

Report on dividends paid


Press Release

Official press release

cautionBeware of scams!

Please be advised you will not receive any email notification to claim, unlock or suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

caution

Beware of scams!
Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

ACQUIRING INSTITUTION: COLUMBIA STATE BANK

About Columbia State Bank

All deposit accounts, excluding certain brokered deposits, were transferred to Columbia State Bank, Tacoma, WA ("assuming institution"). Former Summit Bank locations reopened as branches of Columbia State Bank.

Your transferred deposits were separately insured from any accounts you may have already had at Columbia State Bank for at least six months after the failure of Summit Bank.

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Columbia State Bank as long as the deposits are not pledged as collateral for loans.

Contacting Columbia State Bank

You can contact Columbia State Bank:

Columbia State Bank
1301 A Street
Tacoma, WA 98402

Columbia State Bank (www.columbiabank.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF (11Mb)
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

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