Bank failure · OR

Northwest Commerce Bank (North Bend, OR) — failed June 19, 1981

Northwest Commerce Bank of North Bend, Oregon was closed on June 19, 1981 and resolved through a purchase and assumption. Citizens Bank of North B (OR) took over its insured deposits. At failure it held $6.7M in assets and $5.2M in deposits. The FDIC's estimated loss on the failure is $1.0M (15.1% of assets).