FDIC website updated 5/30/2024 WTF is going on ???, they skipped the 12/31/2023 balance sheet update????????
WASHINGTON MUTUAL BANK - Receivership Balance Sheet Summary
(Unaudited)
Fund Code:10015
Failure Date:9/25/2008
For Period Ending September 30, 2023
(in $000's)
Assets Current Balance
Cash and Investments $ 157,583
Due from FDIC Corp and Receivables 0
Assets in Liquidation 0
Estimated Loss on Assets in Liquidation(1)
0
Total Assets $157,583
Liabilities Current Balance
Administrative Liabilities $ 1,038
FDIC Subrogated Deposit Claim 0
Uninsured Deposit Claims 0
Other Claimant Liabilities 14,808,671
Unproven Claims 0
Total Liabilities(2)
$ 14,809,709
Net Worth (Deficit) $ (14,652,126)
Total Liabilities and Net Worth $157,583
________________________________________
Claims Detail Summary (Unaudited)
Proven Deposit Claims Claim Balance %
FDIC Subrogated Claim $ 151,150,664 100%
Uninsured Depositors 0 0%
Sub Total - Proven Deposit Claims $ 151,150,664 100%
Less: Dividends Paid to Date 151,150,664 100%
Total Unpaid Deposit Claims $0 0 %
Other Claimants Claim Balance %
General Creditor $ 3,025,216 18%
Senior Debt Holders 6,077,557 36%
Subordinated Debt Holders 7,723,052 46%
Sub Total - Other Claimants $ 16,825,825 100%
Less: Dividends Paid to Date 2,017,154 12%
Total Unpaid Other Claimants $14,808,671 88 %
Back
________________________________________
(1)The Valuation of Assets/Loss Allowances: Assets of the receivership are shown at values representing cash on deposit or the book value of amounts invested; the principal balance of loans, notes, other debt instruments or receivables (note that interest on these assets is not accrued after failure but is recognized when received); the foreclosed value of real and/or personal property or the book value of assets (cost less depreciation or amortization through date of the institution’s failure); and the historical cost of the net investment in subsidiaries, partnerships or joint ventures, adjusted where appropriate to reflect the receivership’s portion of the underlying net earnings or losses. An Estimated Loss on Assets is provided when anticipated future asset disposition proceeds, including associated expenses, are less than recorded amounts. Future asset disposition proceeds are generally estimated by determining, via sampling or recent disposition activity, the recovery rates for similar assets across all receiverships. However, actual recovery rates for this receivership may differ according to the quality and type of individual asset, as well as over time with changing market conditions. Accordingly, the gains or losses ultimately realized for this receivership will likely vary from amounts estimated.
(2)The Total Liabilities line item reflects those actual and accrued liabilities recorded on the accounting records of this receivership as of the date of this report. The Total Liabilities line item may not include other liabilities arising from Estimated Interest on Claims and Income Taxes, as these liabilities may not be recognized as of the report date, in accordance with current receivership accounting practices. Last Updated: 10/27/2023
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WASHINGTON MUTUAL BANK - Receivership Balance Sheet Summary
(Unaudited)
Fund Code:10015
Failure Date:9/25/2008
For Period Ending March 31, 2024
(in $000's)
Assets(1)
Current Balance
Cash and Investments $ 163,407
Due from FDIC Corp and Receivables 0
Assets in Liquidation 0
Estimated Loss on Assets in Liquidation(2)
0
Total Assets $163,407
Liabilities Current Balance
Administrative Liabilities $ 1,260
FDIC Subrogated Deposit Claim 0
Uninsured Deposit Claims 0
Other Claimant Liabilities 14,808,671
Unproven Claims(3)
0
Total Liabilities(4)
$ 14,809,931
Net Worth (Deficit) $ (14,646,524)
Total Liabilities and Net Worth $163,407
________________________________________
Claims Detail Summary (Unaudited)
Proven Deposit Claims Claim Balance %
FDIC Subrogated Claim $ 151,150,664 100%
Uninsured Depositors 0 0%
SubTotal - Proven Deposit Claims $ 151,150,664 100%
Less: Dividends Paid to Date 151,150,664 100%
Total Unpaid Deposit Claims $0 0 %
Other Claimants Claim Balance %
General Creditor $ 3,025,216 18%
Senior Debt Holders 6,077,557 36%
Subordinated Debt Holders 7,723,052 46%
SubTotal - Other Claimants $ 16,825,825 100%
Less: Dividends Paid to Date 2,017,154 12%
Total Unpaid Other Claimants $14,808,671 88 %
Back
________________________________________
(1)The Assets of the receivership are shown, as of the report date, at values comprising 1) cash on hand/invested; 2) receivables due from the FDIC and/or the acquiring institution; and 3) assets in liquidation at recorded book values, including: (i) the principal balance of loans, notes, other debt instruments or receivables (note that interest on these assets is recognized upon receipt); (ii) the foreclosed value of real and/or personal property or the book value of assets (cost less depreciation or amortization through date of the institution’s failure); and (iii) the historical cost of the net investment in subsidiaries, partnerships or joint ventures (adjusted where appropriate to reflect the receivership’s portion of the underlying net earnings or losses.)
(2)An Estimated Loss on Assets is reported when anticipated future asset disposition proceeds are less than recorded book value amounts. Future asset disposition proceeds are generally estimated by determining, via sampling or recent disposition activity, the recovery rates for similar assets across all receiverships. However, actual recovery rates for this receivership may differ according to the quality and type of individual asset, as well as over time with changing market conditions, and costs incurred through asset disposition. Accordingly, asset gains or losses ultimately realized for this receivership may vary from the amounts estimated as of the date of this report.
(3)The Unproven Claims line item includes those estimated and unpaid liabilities that were recorded on the accounting records of the insured depository institution as of the date of failure, but have not yet been proven to the satisfaction of the receiver in accordance with applicable law and/or the FDIC’s regulations regarding the determination of claims. If proven, the unproven claim amount will be reclassified on the balance sheet as an administrative, deposit, or other claimant liability type. Note that the Unproven Claims line item amount does not include pending administrative claims, pending litigation claims, or residual shareholder interests.
(4)The Total Liabilities line item reflects actual and certain estimated liabilities recorded on the accounting records of this receivership as of the date of this report, in accordance with current receivership accounting practices. Note that the Total Liabilities line item does not include other contingent liabilities such as accrued interest due on secured and unsecured claims, projected liquidation expenses for ongoing and future receivership activities, pending administrative claims, pending litigation claims, or residual shareholder interests.
Last Updated: 5/30/2024Customer Servi
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