On Friday, April 16, 2010, City Bank, Lynnwood, WA was closed by the Washington Department of Financial Institutions, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
All deposit accounts, excluding certain brokered deposits, have been transferred to Whidbey Island Bank, Coupeville, WA ("assuming institution") and will be available immediately. The former City Bank locations will reopen as branches of Whidbey Island Bank during regular business hours.