Washington state bank closes; first failure of ’13

Westside Community Bank, based in University Place, Washington, became the first bank of 2013 to be closed by the FDIC. The bank’s assets will be bought by Sunwest Bank, based out of Irvine, California. The bank had just under $100 million dollars in both assets and deposits – and it’s failure is expected to cost the federal insurance agency just over 20 million dollars.

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Washington state bank closes; first failure of ’13