HORIZON BANK Failed 2010
What happened
HORIZON BANK of BELLINGHAM, WA was closed on 2010-01-08. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to WASHINGTON FEDERAL SAVINGS AND LOAN ASSOCIATION (SEATTLE, WA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3734
- FDIC Certificate
- 22977
- FDIC FIN
- 10168
- Bank name
- HORIZON BANK
- Location
- BELLINGHAM, WA
- Failure date
- 2010-01-08
- FDIC resolution date
- 2010-01-08
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $205M
- Deposits at failure
- $1,049M
- Assets at failure
- $1,189M
- Acquiring bank
- WASHINGTON FEDERAL SAVINGS AND LOAN ASSOCIATION (SEATTLE, WA)