Article: KEY BANK ACQUIRES EMERALD CITY BANK

 
TACOMA, Wash., July 2 /PRNewswire/ -- Deborah L. Bevier, Key Bank of Washington's chairman and chief executive officer, today announced that Key Bank has acquired certain loans and insured deposits of Seattle- based Emerald City Bank.  Key Bank will operate the 23rd and Union building in Seattle, formerly occupied by Emerald City Bank, as a branch of Key Bank. 
This action follows an earlier announcement that the Washington State Supervisor of Banking had taken possession of Emerald City Bank, and had appointed the Federal Deposit Insurance Corp. (FDIC) as receiver to handle Emerald City's assets.  The supervisor took action after Emerald City Bank was unable to raise the ...

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