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Friday, May 27, 2011

Bank Failure #44 in 2011: First Heritage Bank, Snohomish, Washington

by Calculated Risk on 5/27/2011 10:34:00 PM

From the FDIC: Columbia State Bank, Tacoma, Washington, Assumes All of the Deposits of First Heritage Bank, Snohomish, Washington

As of March 31, 2011, First Heritage Bank had approximately $173.5 million in total assets and $163.3 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $34.9 million. ... First Heritage Bank is the 44th FDIC-insured institution to fail in the nation this year, and the second in Washington.
Friday arrives late ...