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First Bank Failure of 2010 - Horizon Bank in Washington State

Friday, January 8, 2010 - 8:32 PM
The FDIC isn't wasting any time. From the FDIC press release:
Horizon Bank, Bellingham, Washington, was closed today by the Washington State Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Washington Federal Savings and Loan Association, Seattle, Washington, to assume all of the deposits of Horizon Bank.
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Ken TuminKen Tumin5,441 posts since
Nov 29, 2009
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