Regulators shut down Horizon Bank and Kern Central Credit Union
Submitted by Harkamal Singh on Sun, 01/10/2010 - 16:34
Washington-based Horizon Bank became the first US bank to be closed by the regulators in 2010, costing the Federal Deposit Insurance Corporation around $540 million.
FDIC said that Seattle-based lender, Washington Federal, would take over roughly all of Horizon's $1.3 billion in assets and $1.2 billion in deposits.
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