First Heritage Bank, Snohomish, Washington, was closed by the Washington State Department of Financial Institutions. FDIC and Columbia State Bank agreed to assume all of the deposits of the failed bank. The FDIC estimates that the cost to the Deposit Insurance Fund will be $34.9 million. The last FDIC-insured institution closed in the state was Summit Bank, Burlington, on May 20. Now 56 Failed Institutions so far in 2011 have been closed in Washington state.”]
Source: https://www.cuinfosecurity.com/one-bank-closed-on-may-27-a-3685