Seafirst Bank

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Seafirst Corporation was a bank holding company based in Seattle, Washington. It was acquired by BankAmerica Corp. in 1983, when Seafirst was at risk of seizure by the federal government after becoming insolvent due to a series of bad loans to the oil industry. The corporation and its primary subsidiary, Seattle-First National Bank, maintained the Seafirst Bank name and brand identity until the 1998 merger of BankAmerica Corp. and NationsBank Corp. into the modern Bank of America Corporation.

Formed on November 11, 1929, from the merger of Seattle's three largest banks, the First National Bank Group, the Dexter Horton National Bank, and Seattle National Bank, the bank was originally named First Seattle Dexter Horton National Bank. In 1931, the bank changed its name to First National Bank of Seattle, and again in 1935 to Seattle-First National Bank. The latter, abbreviated Seafirst, was used until the bank assumed the Bank of America brand in 2000.

References

The Bankoscope: Staff Publication of the Seattle-First National Bank. Special Anniversary Issue, June 1960, Volume XVIII. Seattle: Seattle-First National Bank, 1960.

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