Saturday, September 12, 2009

Calculated Risk: Bank Failure #92: Venture Bank, Lacy, Washington

Calculated Risk: Bank Failure #92: Venture Bank, Lacy, Washington

Venture Bank, Lacy, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a ...


Venture Bank is the 92nd FDIC-insured institution to fail in the nation this year, and the third in Washington. The last FDIC-insured institution closed in the state was Westsound Bank, Bremerton, on May 8, 2009. ...


The FDIC immediately entered into a prearranged purchase and assumption agreement with First-Citizens Bank and Trust Co. of Raleigh, N.C., which has assumed all deposits and assets – but for some brokered deposits – of Venture Bank. ...


Venture Bank is the 92nd FDIC-insured institution to fail in the nation this year, and the third in Washington. The last FDIC-insured institution closed in the state was Westsound Bank, Bremerton, on May 8, 2009. ...


Venture Bank is the 92nd FDIC-insured institution to fail in the nation this year, and the third in Washington. The last FDIC-insured institution closed in the state was Westsound Bank, Bremerton, on May 8, 2009. ...


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