NORTHWEST COMMERCE BANK Failed 1981

What happened

NORTHWEST COMMERCE BANK of NORTH BEND, OR was closed on 1981-06-19. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to CITIZENS BANK OF NORTH B (NORTH BEND, OR). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

596

FDIC Certificate

22640

FDIC FIN

2289

Bank name

NORTHWEST COMMERCE BANK

Location

NORTH BEND, OR

Failure date

1981-06-19

FDIC resolution date

1981-06-19

Charter type

State commercial bank, Federal Reserve member

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$1M

Deposits at failure

$5M

Assets at failure

$7M

Acquiring bank

CITIZENS BANK OF NORTH B (NORTH BEND, OR)