Bank of Whitman, Colfax, WA, Closed By Regulators

Bank of Whitman, Colfax, Washington, was closed today by state banking regulators who appointed the FDIC as receiver.  The failed bank was sold to Columbia State Bank which will assume all deposits of Bank of Whitman. Bank of Whitman, established in 1977, was an employee owned community bank with 20 branches and $548.6 million in […]

Heritage Bank of Washington Becomes 44th Banking Failure

First Heritage Bank of Snohomish, Washington, became the nation’s 44 banking failure of 2011.  The Bank was closed by the Washington State Department of Financial Institutions which appointed the FDIC as receiver. The FDIC sold failed Heritage to Columbia State Bank of Tacoma, Washington, which will assume all deposits and purchase most of the assets […]

Summit Bank, Burlington, Washington – Banking Failure #43

Summit Bank, Burlington, WA, was closed today by the Washington State Department of Financial Institutions.  The FDIC, appointed as receiver, sold the failed bank to Columbia State Bank, which will assume all deposits and acquire substantially all of the assets of the failed bank. Summit Bank had total assets of $142.7 million and total deposits […]