Bank failure Friday

January 9, 2010

Only one failure last night (the first of the new year and the first since the week before Christmas).


  • Failed bank: Horizon Bank, Bellingham WA
  • Acquiring bank: Washington Federal S&L, Seattle WA
  • Vitals: assets of $1.3 billion, deposits of $1.1 billion
  • Estimated DIF damage: $539m (loss rate 41% of assets)
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