Bank failure · VA

The Washington Bank (Fairfax County, VA) — failed September 18, 1992

The Washington Bank of Fairfax County, Virginia was closed on September 18, 1992 and resolved through a purchase and assumption (insured deposits). George Mason Bank (VA) took over its insured deposits. At failure it held $28.1M in assets and $27.9M in deposits. The FDIC's estimated loss on the failure is $5.1M (18.0% of assets).