Eastern Adams County's Only Independent Voice Since 1887
Eastern Adams County's Only Independent Voice Since 1887
SIGN OF THE TIMES. A Columbia Bank sign was already in place early Saturday morning as news spread of the Bank of Whitman’s fate. Many stopped on the steps of the bank to read the FDIC’s announcement of the forced sale.
Founded in 1977 by Whitman County farmers and businessmen, the Bank of Whitman’s role as a community bank ceased last week. Washington State Department of Financial Institutions (DFI) shut down the bank on Friday.
The state agency appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The result was a purchase and assumption agreement between FDIC and Columbia State Bank of Tacoma. Columbia Bank has assumed all of the deposits of Bank of Whitman.
The impact of the closure sent ripples throughout Adams County and the surrounding area. The bank’s closure was compounded by the FD...
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