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Bailout
: Calculated RiskBank Failure #142: Pierce Commercial Bank, Tacoma, Washington
By Anonymous
Cataclysmic cash cloudburst
Poor panacea
by Soylent Green is People
From the FDIC: Heritage Bank, Olympia, Washington, Assumes All of the Deposits of Pierce Commercial Bank, Tacoma, Washington
As of September 30, 2010, Pierce Commercial Bank had approximately $221.1 million in total assets and $193.5 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $21.3 million. ... Pierce Commercial Bank is the 142nd FDIC-insured institution to fail in the nation this year, and the eleventh in Washington..
Full post as published by Calculated Risk on November 05, 2010 (boomark / email).
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