First Bank Failure of 2010 — Horizon Bank of Bellingham, WA

Washington Federal, perhaps the strongest of Washington’s community banks, has picked off the assets of 2010′s first FDIC seized bank: 

http://money.cnn.com/2010/01/09/news/economy/first_2010_bank_failure/index.htm

Those WaFed guys are smart…well capitalized.  They got burned a little, but they’ve managed the crisis better than nearly any other local lender who went long into construction and development.

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