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Regulators shut down two Western banks

1 min read

Regulators shut down two Western banks

Regulators seized two Western banks on Friday, one in Washington and one in Nevada.

The Washington Department of Financial Institutions shut down Rainier Pacific Bank, of Renton, and appointed the Federal Deposit Insurance Corp. as receiver. The FDIC arranged for Umpqua Bank, of Roseburg, Ore., to take over the failed bank’s $446.2 million in deposits and $670.1 million of its assets.

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