Bank Failure
Rainier Pacific Bank
BankRegReports is independent of Rainier Pacific Bank and never asks for online banking logins or passwords.
Closed February 26, 2010 · Tacoma, WA · FDIC Cert #38129.
- Closing date
- February 26, 2010
- Headquarters
- Tacoma, WA
- FDIC Certificate
- 38129
- Total assets at closing
- $717.8M
- Total deposits at closing
- $446.2M
- Estimated loss to the insurance fund
- $2.8M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Umpqua Bank
Context
On February 26, 2010, regulators closed Rainier Pacific Bank, headquartered in Tacoma, WA. At closing, the institution held approximately $717.8M in assets and $446.2M in deposits. The FDIC record names Umpqua Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $2.8M.
By assets at closing this is the 287th largest of the 3,526 bank failures in the FDIC record, and the 28th of 157 in 2010. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Rainier Pacific Bank fail?
Rainier Pacific Bank was closed by regulators on February 26, 2010.
Who acquired Rainier Pacific Bank?
The FDIC record names Umpqua Bank as the acquiring institution in the resolution of Rainier Pacific Bank.
How big was Rainier Pacific Bank when it failed?
Rainier Pacific Bank had approximately $717.8M in total assets and $446.2M in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
Explore: all failures · WA bank events · 2010 events · events hub