First Bank Closure Of 2013 In Washington State

Posted by Orb Staff on January 16, 2013 No Comments
Categories : Residential Mortgage

13109_closed First Bank Closure Of 2013 In Washington State Westside Community Bank, located in University Place, Wash., has become the first bank to be closed this year.

The Washington State Department of Financial Institutions closed the bank and named the Federal Deposit Insurance Corp. (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with Sunwest Bank of Irvine, Calif., to assume all of the deposits of Westside Community Bank.

As of Sept. 30, 2012, Westside Community Bank had approximately $97.7 million in total assets and $96.5 million in total deposits.

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