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Friday, November 05, 2010

Bank Failure #142: Pierce Commercial Bank, Tacoma, Washington

by Calculated Risk on 11/05/2010 08:22:00 PM

There were 140 failures in 2009. This makes 142 and counting in 2010 ...

Ben's bucket 'o bucks
Cataclysmic cash cloudburst
Poor panacea

by Soylent Green is People

From the FDIC: Heritage Bank, Olympia, Washington, Assumes All of the Deposits of Pierce Commercial Bank, Tacoma, Washington
As of September 30, 2010, Pierce Commercial Bank had approximately $221.1 million in total assets and $193.5 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $21.3 million. ... Pierce Commercial Bank is the 142nd FDIC-insured institution to fail in the nation this year, and the eleventh in Washington..