Bank failure · WA

Westsound Bank (Bremerton, WA) — failed May 8, 2009

Westsound Bank of Bremerton, Washington was closed on May 8, 2009 and resolved through a purchase and assumption. Kitsap Bank (WA) took over its insured deposits. At failure it held $334.6M in assets and $304.5M in deposits. The FDIC's estimated loss on the failure is $81.0M (24.2% of assets).