Failure Fridays: Silver Falls Bank Seized
Saturday, February 21, 2009 8:33
Oregon’s Silver Falls Bank was closed Friday by the Oregon Department of Consumer and Business Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
The Federal Deposit Insurance Corporation entered into a purchase and assumption agreement with Citizens Bank, which will assume all of the deposits of the failed Silver Falls bank. Silver Falls Bank had total assets of approximately $131.4 million and total deposits of $116.3 million. Citizens Bank did not pay a premium to acquire the deposits of Silver Falls Bank.
Only one bank failure this weekend? This must be the “bottom!” 
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Chuck says:
February 22nd, 2009 at 2:26 am
Oh I think we are only at the beginning of these troubled times. There are so many similarities between now and the 1930s. check out these ten fact about the great depression.