Bank of Whitman closes, branches open under new name


by & Othello Richards

Posted on August 8, 2011 at 5:17 PM

Updated Monday, Nov 25 at 4:46 PM

COLFAX, Wash. -- The Washington State Department of Financial Institutions has closed the Bank of Whitman.  To protect the depositors, the FDIC entered into a purchase and assumption agreement with Columbia State Bank out of Tacoma, Washington to assume all of the deposits of Bank of Whitman.

Eight of the 20 branches of Bank of Whitman will re-open during their normal business hours beginning Monday as branches of Columbia State Bank.

The eight branches re-opening are at the following locations:

  • 233 Bridge Street, Clarkston
  • 201 S. Main Street, Colfax
  • 605 E. Main Street, Othello
  • 795 SE Bishop Blvd., Pullman
  • 201 W. Main Street, Ritzville
  • 618 W. Riverside Avenue, Spokane (Downtown)
  • 12812 N. Addison, Spokane
  • 500 W. Main Street, Walla Walla

While all deposits were transferred to Columbia State Bank, the remaining 12 branches of the former Bank of Whitman will not re-open.  Customers of the 12 branches not re-opening should utilize the eight branches that are re-opening.

Depositors also can access their accounts and other banking services through the use of checks, ATMs, debit cards, and the Internet.

Columbia State Bank will notify depositors of the Bank of Whitman once it fully integrates its systems to allow the failed bank's customers to use other Columbia State Bank branches in the state.  All depositors of Bank of Whitman will automatically become depositors of Columbia State Bank.  Deposits will continue to be insured by the FDIC.

Customers with questions about the change should call the FDIC toll-free at 1-800-881-7816.