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Great Western Federal Savings Bank, which was founded in 1919 as a Savings and Loan, was purchased by Washington Mutual in 1997 for $6.8 billion. Washington Mutual collapsed in 2008 and its assets were sold to JP Morgan Chase in September of that year.

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Q: Who bought out Great Western Federal Savings Bank?
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Related questions

Who bought out western savings and loan?

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Who bought out western federal savings and loan?

AnswerBank of AmericaIf you are referring to the Western Federal Savings & Loan headquartered in Marina del Rey, CA, BofA did not buy them out. They were taken over by the OTS in 1983 and subsequently, through a series of law suits, proved they were not unhealthy and did not deserve a government take over. By then, however, it was too late to reopen as the OTS sold off all the assets and branches. What a shame - it was a great company that most employees, to this day, say was the best company they ever worked for.


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