Data / Bank failures / 2017 / Washington Federal Bank for Savings
Washington Federal Bank for Savings, Chicago, IL: failed December 15, 2017
Washington Federal Bank for Savings in Chicago, Illinois, failed on December 15, 2017. Royal Savings Bank of Chicago, IL, took over its deposits. It held $166.3 million in assets and $144 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $75 million (45.1% of its assets). By assets it was the 4th largest of 8 banks closed or assisted in 2017.
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The FDIC's record
- Closed
- December 15, 2017
- Type
- Failure
- How it was resolved
- Purchase and assumption of the insured deposits only
- Acquirer
- Royal Savings Bank, Chicago, IL
- Total assets
- $166,345,000
- Total deposits
- $143,964,000
- Estimated cost to the FDIC
- $75,046,848 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- DIF
- FDIC certificate
- 30570
Other bank failures in Illinois, 2015 to 2019
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Fayette County Bank | Saint Elmo | May 26, 2017 | $34.4 million | $34 million | $8.1 million | United Fidelity Bank, FSB |
| Seaway Bank and Trust Company | Chicago | January 27, 2017 | $297.8 million | $256.5 million | $43.7 million | State Bank of Texas |
| Edgebrook Bank | Chicago | May 8, 2015 | $90 million | $90 million | $20.6 million | Republic Bank of Chicago |
| Highland Community Bank | Chicago | January 23, 2015 | $54.7 million | $53.5 million | $4.7 million | United Fidelity Bank, FSB |
All bank failures in 2017 · All bank failures in Illinois · 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.