PIERCE COMMERCIAL BANK Failed 2010
What happened
PIERCE COMMERCIAL BANK of TACOMA, WA was closed on 2010-11-05. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to HERITAGE BANK (OLYMPIA, WA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3874
- FDIC Certificate
- 34411
- FDIC FIN
- 10309
- Bank name
- PIERCE COMMERCIAL BANK
- Location
- TACOMA, WA
- Failure date
- 2010-11-05
- FDIC resolution date
- 2010-11-05
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $27M
- Deposits at failure
- $193M
- Assets at failure
- $221M
- Acquiring bank
- HERITAGE BANK (OLYMPIA, WA)
Other banks HERITAGE BANK acquired in FDIC resolutions