Data / Bank failures / 2011 / First Heritage Bank
First Heritage Bank, Snohomish, WA: failed May 27, 2011
First Heritage Bank in Snohomish, Washington, failed on May 27, 2011. Columbia State Bank of Tacoma, WA, took over its deposits. It held $173.5 million in assets and $163.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $33.6 million (19.4% of its assets). By assets it was the 55th largest of 92 banks closed or assisted in 2011.
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The FDIC's record
- Closed
- May 27, 2011
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Columbia State Bank, Tacoma, WA
- Total assets
- $173,478,000
- Total deposits
- $163,303,000
- Estimated cost to the FDIC
- $33,596,323 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 23626
Other bank failures in Washington, 2009 to 2013
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Westside Community Bank | University Place | January 11, 2013 | $91.9 million | $91.9 million | $22.9 million | Sunwest Bank |
| Bank of Whitman | Colfax | August 5, 2011 | $548.6 million | $515.7 million | $100.9 million | Columbia State Bank |
| Summit Bank | Burlington | May 20, 2011 | $142.7 million | $131.6 million | $24.2 million | Columbia State Bank |
| Pierce Commercial Bank | Tacoma | November 5, 2010 | $221.1 million | $193.5 million | $26.8 million | Heritage Bank |
| Shoreline Bank | Shoreline | October 1, 2010 | $93 million | $90.6 million | $23.5 million | GBC International Bank |
| North County Bank | Arlington | September 24, 2010 | $288.8 million | $276.1 million | $70.8 million | Whidbey Island Bank |
| The Cowlitz Bank | Longview | July 30, 2010 | $489 million | $474.7 million | $31.3 million | Heritage Bank |
| Washington First International Bank | Seattle | June 11, 2010 | $520.9 million | $441.4 million | $95.2 million | East West Bank |
Other failed banks Columbia State Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Bank of Whitman | Colfax | WA | August 5, 2011 | $548.6 million | $515.7 million | $100.9 million | Columbia State Bank |
| Summit Bank | Burlington | WA | May 20, 2011 | $142.7 million | $131.6 million | $24.2 million | Columbia State Bank |
| American Marine Bank | Bainbridge Island | WA | January 29, 2010 | $329.2 million | $287.4 million | $28.4 million | Columbia State Bank |
| Columbia River Bank | The Dalles | OR | January 22, 2010 | $955.1 million | $908.1 million | $54.9 million | Columbia State Bank |
All bank failures in 2011 · All bank failures in Washington · Every failed bank Columbia State Bank took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.