Data / Bank failures / 1988 / The Liberty Bank of Seattle
The Liberty Bank of Seattle, Seattle, WA: failed June 17, 1988
The Liberty Bank of Seattle in Seattle, Washington, failed on June 17, 1988. Emerald City Bank of Seattle, WA, took over its deposits. It held $19.1 million in assets and $20.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $8.4 million (43.7% of its assets). By assets it was the 388th largest of 470 banks closed or assisted in 1988.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
The FDIC's record
- Closed
- June 17, 1988
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Emerald City Bank, Seattle, WA
- Total assets
- $19,146,000
- Total deposits
- $20,573,000
- Estimated cost to the FDIC
- $8,366,760 (estimate as of July 31, 2026)
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- FDIC
- FDIC certificate
- 19817
Other bank failures in Washington, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Frontier FS & La | Walla Walla | February 23, 1990 | $146.9 million | $120 million | $9,856 | Washington Mutual |
| Gibraltar Savings Bank, FSB | Seattle | March 31, 1989 | $1.68 billion | $1.37 billion | $59,301 | |
| Community First Fed Savings (assistance) | Vancouver | December 15, 1988 | $386 million | $308.1 million | $73.3 million | American Home Savings A FSB |
| Eastern Washington S&LA (assistance) | Wenatchee | December 14, 1988 | $51.5 million | $32.3 million | $1.1 million | First W FS&LA of Wenatchee |
| First of Longview (assistance) | Longview | August 2, 1988 | $78.1 million | $76.3 million | $13.6 million | First FS&LA |
| Lynnwood S&LA (assistance) | Lynnwood | June 24, 1988 | $24.1 million | $24.9 million | $3.7 million | World S&LA America Fed S&L |
| Tri-Cities Savings and Loan (assistance) | Kennewick | April 11, 1988 | $53.1 million | $43.8 million | $14.2 million | Sterling Savings of Spokane |
| Home S&LA (assistance) | Seattle | March 13, 1987 | $150.6 million | $117.6 million | $25.9 million | Interwest Savings Bank |
All bank failures in 1988 · All bank failures in Washington · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.