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FDIC shuts down banks in Nevada and Washington (22 total in 2010)
Yahoo News (AP) ^
| February 26, 2010
| Stephen Bernard
Posted on 02/26/2010 7:11:43 PM PST by Cheap_Hessian
NEW YORK Regulators shut down banks in Nevada and Washington on Friday, marking the 21st and 22nd failures this year of federally insured banks.
The Federal Deposit Insurance Corp. was appointed receiver of Carson River Community Bank, based in Carson City, Nev. and Rainier Pacific Bank in Tacoma, Wash.
Carson River Community Bank had $51.1 million in assets and $50 million in deposits as of Dec. 31. Rainier Pacific Bank had $717.8 million in assets and $446.2 million in deposits as of Dec. 31.
The FDIC said that Carson River's deposits will be assumed by Reno, Nev.-based Heritage Bank of Nevada. Carson River's lone branch will reopen Monday as an office of Heritage Bank.
Heritage Bank will purchase $38 million of the assets. The FDIC and Heritage Bank agreed to a loss-share agreement on $28.5 million of Carson River Community Bank's assets.
Rainier Pacific's deposits will be assumed by Umpqua Bank in Roseburg, Ore. Rainier Pacific's 14 branches will reopen during normal business hours as offices of Umpqua Bank.
(Excerpt) Read more at news.yahoo.com ...
TOPICS: Business/Economy; Front Page News; News/Current Events; US: Nevada; US: Oregon; US: Washington
KEYWORDS: banks; failures; fdic; finance; nevada; oregon; washington
To: Feasor13; matt1234; Bosun; washingtoncon; Pavegunner72; cherry; aw93472; WeatherGuy; CBF; ...
Say WA? Evergreen State ping
Quick link: WA State Board
if you want on or off this ping list. Ping sionnsar
if you see a Washington state related thread.
posted on 02/26/2010 7:13:29 PM PST
(IranAzadi|5yst3m 0wn3d-it's N0t Y0ur5:SONY|Remember Neda Agha-Soltan|TV--it's NOT news you can trust)
posted on 02/26/2010 7:14:09 PM PST
by Diana in Wisconsin
(Save the Earth. It's the only planet with chocolate.)
I think I’m glad that my bank was taken over early in the process (WAMU).
posted on 02/26/2010 8:03:27 PM PST
(Personally, I give us... one chance in three. More tea?)
To: stephenjohnbanker; wafflehouse; Leisler; PAR35; TigerLikesRooster; AndyJackson; Thane_Banquo; ...
posted on 02/26/2010 8:41:37 PM PST
(Live Free or Die)
It’s too bad the Fed was not closed down.
posted on 02/27/2010 1:03:48 AM PST
by M. Espinola
(Freedom is never "free")
Rainier Pacific Bank had $717.8 million in assets and $446.2 million in deposits as of Dec. 31.
On the surface, it appears that Umpqua got a much better deal.
posted on 02/27/2010 5:24:42 AM PST
(Support our troops, and vote out the RINOS)
posted on 02/27/2010 7:34:55 AM PST
by April Lexington
(Study the constitution so you know what they are taking away!)
Think again. Chase is a monster! I’ll have nothing further to do with them. Period.
posted on 02/28/2010 9:26:26 AM PST
(Give me liberty, or give me death! (Patrick Henry))
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