Washington Mutual to close 25 Chicago-area locations

Washington Mutual Inc. says it is closing 25 of its 146 Chicago-area branches, the second time it has closed locations in the area in just over a year.

The Seattle-based institution entered the Chicago market in 2003 and recently ranked fifth in the number of branches and 28th in deposit market share with $1.37 billion in deposits.

Washington Mutual, the nation's largest savings and loan, made the announcement Friday. About 150 workers will be affected. The institution says it will try to place them at other local branches. Washington Mutual employs more than 2,000 workers in the Chicago area.

Five of the branches to be closed are in Chicago, with the others in the suburbs.

Closings are expected to begin March 18.