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Oregon Regulators Close Small Bank

 

The Oregon Department of Consumer and Business Services closed Silver Falls Bank of Silverton, Ore. Friday, bringing the total number of U.S. banks and savings and loans closed during 2009 to fourteen.

The Federal Deposit Insurance Corp. was appointed receiver. It arranged for Citizens Bank of Corvallis, Ore. to acquire all of the failed bank's deposits.

Please see TheStreet.com's new Bank Failure Map for an interactive summary of all previous bank and S&L failures during 2008 and 2009. ...

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