Saturday, May 28, 2011

Another Washington State Bank Shuttered

Posted By on Sat, May 28, 2011 at 11:34 AM

Federal regulators shut down a Washington State bank late Friday, the second Washington closure in as many weeks. This year so far, 55 U.S. banks have failed, but the pace has slowed compared to last year. By this time in 2010, regulators had closed 78 banks.

The Federal Desposit Insurance Corp. shuttered First Heritgage Bank in Snohomish, Wash. Columbia State Bank is scheduled to take over the bank after the Memorial Day weekend.

Meanwhile, the number of banks on the FDIC's confidential "problem" list bumped up to 888 in the January-March period, from 884 as of Dec. 31.

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