On Friday, May 8, 2009, Westsound Bank was closed by the Washington Department of Financial Institutions. The FDIC was named Receiver. Kitsap Bank, Port Orchard, WA acquired all deposit accounts.
The FDIC as Receiver for Westsound Bank, Bremerton, WA has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on February 1, 2023 and has made all dividend distributions required by law.
Effective December 1, 2023, 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: December 1, 2023
Notice of Intent to Terminate
Publication Date: February 1, 2023
Dividend Information
Report on dividends paid
Press Release
Official press release
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TRANSACTION DOCUMENTATION
Purchase & Assumption Agreement
Agreement between FDIC and acquiring institution
BankFind Suite: Find Institutions by Name & Location
BankFind Suite allows you to locate the failed bank by name or FDIC certificate number.