Seafirst Bank

Seafirst Corporation was an American bank holding company based in Seattle, Washington.[1][2] Formed in 1929 via the merger of Seattle's three largest banks, Seafirst was acquired in 1983 by BankAmerica after posting huge losses from loans it purchased from the failed Penn Square Bank; the Seafirst brand was retired in 1999 after NationsBank acquired BankAmerica the previous year and subsequently implemented the Bank of America brand nationwide.[3] In 1944, the bank won a case before the US Supreme Court, United States v. Seattle-First Nat.[5][6] In April 1983,[7][8] San Francisco–based BankAmerica Corporation announced the pending acquisition of the ailing Seafirst Corporation for $400 million in cash and stock,[9][10] when Seafirst was at risk of seizure by the federal government after becoming insolvent following the demise of Oklahoma City–based Penn Square Bank.Penn Square Bank collapsed in 1982, and the FDIC's decision to pay off only insured deposits rendered the participation assets valueless.
The Bank of Dexter Horton & Co., First South and Washington in Seattle's Pioneer Square neighborhood, 1900. As of 2009 the building is still in use as the Maynard Building .
Trade nameTraded asBankingSeattle, WashingtonBank of AmericaWashingtonParentBankAmericaSubsidiariesPioneer SquareMaynard Buildingbank holding companySeattlebranchesPenn Square BankNationsBankDexter HortonBankAmerica CorporationinsolventOklahoma City$4.4 million was stolenLakewoodTrenchcoat RobbersBankAmerica Corp.NationsBank Corp.Bank of America CorporationColumbia Seafirst CenterSeafirst BuildingSeattle Post-IntelligencerNew York TimesFederal Deposit Insurance CorporationUnited Press InternationalPuget Sound Business JournalUniversity of Washington LibrariesBank of America Home LoansBank of America Private BankBofA SecuritiesMerrillBanc of America SecuritiesBank of America, Los AngelesBank of America NT&SABank of ItalyBank of New EnglandBankBostonBarnett BankBenj. Franklin Savings and LoanBoatmen's BancsharesCassatt & CompanyCentral Bank and TrustCitizens & Southern National BankCommercial National BankContinental IllinoisCountrywide FinancialE. A. Pierce & Co.Farmers and Merchants Bank of Los AngelesFirst FranklinFirst Republic Bank CorporationFleet BankFourth Financial CorporationG. H. Walker & Co.Gibraltar Savings and LoanGibraltar Savings AssociationLaSalle BankMercury Asset ManagementMBNA/Maryland National BankMichigan National BankMontgomery SecuritiesNational Westminster Bank USANorth Carolina National BankProvident Institution for SavingsRainier BancorpRobertson StephensSecurity Pacific BankStandard Federal BankSovran BankSummit BancorpSuretradeWestern Savings and LoanWhite Weld & Co.555 California Street (San Francisco)701 Brickell AvenueAlbuquerque PlazaAmerican Security and Trust Company Building (Washington, D.C.)BaltimoreMidlandOaklandHoustonLos AngelesNorfolkBank of America Corporate Center (Charlotte)AtlantaCharlotteChicagoDallasFort LauderdaleSt. LouisJacksonvilleManhattanPhoenixSt. PetersburgBoulder TowersHearst Tower (Charlotte)Miami TowerMuseum TowerAmadeo GianniniKen LewisBrian Moynihan