by Calculated Risk on 5/20/2011 09:11:00 PM

A graceless collapse
From apogee to abyss
Thy name is Summit
by Soylent Green is People
From the FDIC: Columbia State Bank, Tacoma, Washington, Assumes All of the Deposits of Summit Bank, Burlington, Washington

As of March 31, 2011, Summit Bank had approximately $142.7 million in total assets and $131.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $15.7 million. ... Summit Bank is the 43rd FDIC-insured institution to fail in the nation this year, and the first in Washington.

That makes 3 today ...