Our Can Turkyilmaz took this photo, which is pretty self explanatory. (The more viewer friendly version of the photo is here.) And I love the sophisticated tape job on the signs.

This was going to be a Washington Mutual branch at Greenville and Lovers, as Keri Mitchell noted previously. But when JPMorganChase bought Washington Mutual in the bank bailout frenzy, it had no use for this branch. There’s a Chase up the street at Greenville and Caruth Haven.

I wonder: What does one do with a bank branch if one doesn’t want to use it for a bank? Can I use the vault as a wine cellar?


After the jump, the official word from Chase spokesman Thomas A. Kelly (who added that he didn’t know if the vault would make a good wine cellar):
The FDIC put WaMu’s bank into receivership and then sold it to Chase on Sept. 25. Part of the agreement allowed Chase to accept or not accept all leases and contracts. One of those leases is for the facility that would have been a branch at Greenville and Lovers.

Chase didn’t need the facility because it already has a branch nearby. So, Chase told the FDIC by the deadline of Dec. 24 that it didn’t accept that lease, so the lease went back to the FDIC. The FDIC won’t need the space, so it goes back on the market.


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