Four bank receiverships by federal insurer are terminated

The federal deposit insurer for the nation’s banks and thrifts terminated another four bank receiverships June 1, according to a notice scheduled for publication in the Federal Register.

The terminated receiverships were for:

  • Community First Bank, Prineville, Ore.: The bank was closed Aug. 7, 2009, by the Oregon Division of Finance & Corporate Securities, which named the FDIC as receiver. It had eight branches and total assets of approximately $209 million.
  • Rainier Pacific Bank, Tacoma, Wash.: The bank was closed Feb. 26, 2010, by the Washington Department of Financial Institutions, which named the FDIC as receiver. The previous December, it had 14 branches and assets of approximately $717.8 million.
  • High Desert State Bank, Albuquerque, N.M.: The bank was closed June 25, 2010, by the New Mexico Financial Institutions Division, which named the FDIC as receiver. That March, the bank had two branches and assets of approximately $80.3 million.
  • The First National Bank of Olathe, Olathe, Kan.: The bank was closed Aug. 12, 2012, by the Office of the Comptroller of the Currency (OCC), which named the FDIC as receiver. That June, it had six branches and assets of approximately $538.1 million.

As receiver, the FDIC was charged with winding up the banks’ affairs and liquidating all related assets. That work has been completed, and all dividend distributions required by law have been made, the agency said.

FDIC Notice of Termination of Receiverships

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