Demons & Dialog

Exposing hidden news, history, & the new world order

14th Bank Failure of 2009

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Silver Falls Bank, Silverton, Oregon, was closed today by the Oregon Department of Consumer and Business Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Citizens Bank, Corvallis, Oregon, to assume all of the deposits of Silver Falls Bank.

The three branches of Silver Falls Bank will reopen on Monday as branches of Citizens Bank. Depositors of Silver Falls Bank will automatically become depositors of Citizens Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers of both banks should continue to use their existing branches until Citizens Bank can fully integrate the deposit records of Silver Falls Bank…….

14th Bank Failure of 2009

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Written by Michael Cooper

February 21, 2009 at 8:55 pm

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