Bank Failure
Northwest Commerce Bank
BankRegReports is independent of Northwest Commerce Bank and never asks for online banking logins or passwords.
Closed June 19, 1981 · North Bend, OR · FDIC Cert #22640.
- Closing date
- June 19, 1981
- Headquarters
- North Bend, OR
- FDIC Certificate
- 22640
- Total assets at closing
- $6.7M
- Total deposits at closing
- $5.2M
- Estimated loss to the insurance fund
- $1.0M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Citizens Bank of North B
Context
On June 19, 1981, regulators closed Northwest Commerce Bank, headquartered in North Bend, OR. At closing, the institution held approximately $6.7M in assets and $5.2M in deposits. The FDIC record names Citizens Bank of North B as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $1.0M.
By assets at closing this is the 2915th largest of the 3,526 bank failures in the FDIC record, and the 7th of 9 in 1981. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Northwest Commerce Bank fail?
Northwest Commerce Bank was closed by regulators on June 19, 1981.
Who acquired Northwest Commerce Bank?
The FDIC record names Citizens Bank of North B as the acquiring institution in the resolution of Northwest Commerce Bank.
How big was Northwest Commerce Bank when it failed?
Northwest Commerce Bank had approximately $6.7M in total assets and $5.2M in deposits at the time of failure.
Other failures in 1981
| Date | Bank | Assets |
|---|---|---|
| Oct 30, 1981 | Midtown National Bank | $10.6M |
| Oct 23, 1981 | High Lakes Community Bank | $3.7M |
| Sep 25, 1981 | Southwestern Bank | $5.3M |
| Sep 8, 1981 | First FS&LA of Rochester | $1.20B |
| May 18, 1981 | Economy S&LA | $73.9M |
| Mar 17, 1981 | Peoples Banking Company | $8.4M |
| Mar 14, 1981 | The Des Plaines Bank | $46.5M |
| Mar 14, 1981 | South Side Bank | $27.5M |
Explore: all failures · OR bank events · 1981 events · events hub