OCC Appoints Receiver for Washington Federal Bank for Savings, Chicago, Illinois

WASHINGTON — The Office of the Comptroller of the Currency (OCC) today appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for Washington Federal Bank for Savings, Chicago, Illinois. As of September 30, 2017, the bank reported approximately $166 million of total assets.

The OCC acted after finding that the bank had experienced substantial dissipation of assets due to unsafe or unsound practices, and that the bank’s assets were less than its obligations to its creditors and others.

The FDIC will release information about the resolution of the bank.