Horizon Bank fails; bought by Washington Federal
January 9th, 2010
State regulators seized Horizon Bank on Friday evening, making it Washington’s first bank failure of 2010 and the fourth community bank to be seized in the state in the last 13 months.
Washington Federal Inc., of Seattle, quickly snapped up the failed Bellingham bank from regulators, according to information released by the state Department of Financial Institutions no teletrack payday loans.
Regulators closed Horizon because of “inadequate capital and severe loan losses,” the department said in a press release.
Filed under: economics by Forest