Regulators shut down Bank of Whitman

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The Office of the Comptroller of the Currency on friday night closed independent national bank and its four branches in Marion and Sumter counties. Regulators shut down Independent National Bank.

Regulators Friday shut down five small banks, boosting to 45 the number of failures this year of federally insured banks. More are expected to succumb in the prolonged recession.

Columbia Banking System in Tacoma on Friday bought all of the deposits and some assets of the Bank of Whitman, making the Eastern Washington bank the third in the state to fail this year.

The Farmers and Merchants State Bank of Argonia, Kan., was shut down by regulators Friday, the seventh institution to fail this year. conway bank agreed to acquire the operations of the failed bank, which had $34.2 million of assets. The acquirer will assume all the failed bank’s $29.6 million of.

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State regulators shut down Shoreline Bank on Friday, making it the 10th Washington bank to fail this year. Most of the small bank’s assets and liabilities were assumed by Los Angeles-based GBC.

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Claims against failed financial institutions occur when bills sent to the institution remain unpaid at the time of failure. If you or your company provided a service or product, leased space, furniture, or equipment to Bank of Whitman after Friday, August 5, 2011 and have not been paid, you do not have a claim against Bank of Whitman. Please.

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RACINE – When regulators shut down the failed Bank of Elmwood on Oct. 23, depositors were protected from monetary losses – but the employees were not. The bank’s failure delivered a special.