Friday, July 23, 2010

Bank Failure #103: Home Valley Bank, Cave Junction, Oregon

by Bill McBride on 7/23/2010 09:17:00 PM

Thy rod, staff comforts
Home Valley, led through shadows
They have much to fear

by Soylent Green is People

From the FDIC: South Valley Bank & Trust, Klamath Falls, Oregon, Assumes All of the Deposits of Home Valley Bank, Cave Junction, Oregon
As of March 31, 2010, Home Valley Bank had approximately $251.80 million in total assets and $229.6 million in total deposits.
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $37.1 million. ... Home Valley Bank is the 103rd FDIC-insured institution to fail in the nation this year, and the second in Oregon. The last FDIC-insured institution closed in the state was Columbia River Bank, The Dalles, on January 22, 2010.
That makes 7 today ...