Friday, the Federal Deposit Insurance Corp. closed Carson River Community Bank and Rainier Pacific Bank because of bad loans, The Wall Street Pit Blog reported Saturday.
Carson River's $50 million in deposits were assumed by Reno-based Heritage Bank of Nevada, which also agreed to purchase about $38 million of the failed bank's $51.1 million in assets. The failure would cost the FDIC's deposit insurance fund about $7.9 million, the FDIC said.
Rainier Pacific's $446.2 million in deposits were assumed by Umpqua Bank of Roseburg, Ore., which also agreed to purchase $670.1 million of Rainier Pacific's $717.8 million in assets. The failure would cost the insurance deposit fund about $95.2 million, the FDIC said.
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