This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Rainier Pacific Financial Group Announces FDIC Receivership Of Its Bank Subsidiary, Rainier Pacific Bank

Rainier Pacific Financial Group (NASDAQ CM:RPFG), the bank holding company for Rainier Pacific Bank ("Bank"), announced today that on Friday, February 26, 2010, Rainier Pacific Bank, the wholly-owned subsidiary of the Company, was closed by the State of Washington, Department of Financial Institutions, Division of Banks. The Federal Deposit Insurance Corporation was appointed as receiver of the Bank. Customers who have questions about the foregoing matters, or who would like more information can visit the FDIC’s website located at or call the FDIC toll-free at 1-800-830-4725.

The Company also announced that on February 26, 2010, concurrent with the closure of the Bank, all of the directors of Rainier Pacific Bank resigned from its board.

The Company’s shares of Rainier Pacific Bank were its principal asset, and as a result of the Bank’s closure, the Company will either be dissolved and liquidated by its board of directors or file a Chapter 7 bankruptcy proceeding for liquidation.

Any questions should be directed to Jonathan W. Blado, Esq., of Blado Kiger, P.S., the Registered Agent of Rainier Pacific Financial Group as indicated below.

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
RPFG $0.00 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs