Another bank bites the dust. I am surprised it was only one this week.-Lou
FDIC, regulators shut down Oregon's Silver Falls Bank
SAN FRANCISCO (MarketWatch) -- Silver Falls Bank, of Silverton, Ore., was closed Friday by state regulators and the Federal Deposit Insurance Corporation. It was the 14th bank to fail so far this year and the 39th since the beginning of the current credit crisis. Citizens Bank of Corvallis, Ore. will assume all of the deposits of Silver Falls Bank, the FDIC said. Silver Falls Bank had three branches. As of Feb. 9, the bank had total assets of approximately $131.4 million and total deposits of $116.3 million. Citizens Bank did not pay a premium to acquire the deposits of Silver Falls Bank.
FDIC, regulators shut down Oregon's Silver Falls Bank
SAN FRANCISCO (MarketWatch) -- Silver Falls Bank, of Silverton, Ore., was closed Friday by state regulators and the Federal Deposit Insurance Corporation. It was the 14th bank to fail so far this year and the 39th since the beginning of the current credit crisis. Citizens Bank of Corvallis, Ore. will assume all of the deposits of Silver Falls Bank, the FDIC said. Silver Falls Bank had three branches. As of Feb. 9, the bank had total assets of approximately $131.4 million and total deposits of $116.3 million. Citizens Bank did not pay a premium to acquire the deposits of Silver Falls Bank.
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