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Friday, August 07, 2009

Bank Failure #72: Community First Bank, Prineville, Oregon

by Calculated Risk on 8/07/2009 09:30:00 PM

Ashes to Ashes
Banks cash burn rate a firestorm
Smokey Bair on scene

by Soylent Green is People

From the FDIC: Home Federal Bank, Nampa, Idaho, Assumes All of the Deposits of Community First Bank, Prineville, Oregon
Community First Bank, Prineville, Oregon, was closed today ... As of July 5, 2009, Community First Bank had total assets of $209 million and total deposits of approximately $182 million.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $45 million. ... Community First Bank is the 72nd FDIC-insured institution to fail in the nation this year, and the third in Oregon. The last FDIC-insured institution to be closed in the state was Silver Falls Bank, Silverton, Oregon, on February 20, 2009.