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Silver Falls Bank Closed; 14th Bank Failure of 2009 HW+

Feb 23, 2009By

Silverton, Ore.-based Silver Falls Bank was shut down Friday by the Oregon Department of Consumer and Business Services, which appointed the Federal Deposit Insurance Corporation as receiver — marking the 14th bank failure this year. The FDIC then entered into a purchase and assumption agreement with Citizens Bank, out of Corvallis, Ore., to assume all of the deposits of Silver Falls Bank.

3d rendering of a row of luxury townhouses along a street

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