Data / Bank failures / 1983 / Heritage Bank
Heritage Bank, Ashland, OR: failed April 29, 1983
Heritage Bank in Ashland, Oregon, failed on April 29, 1983. Valley of the Rogue Bank of Rogue River, OR, took over its deposits. It held $18.5 million in assets and $16.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.5 million (24.2% of its assets). By assets it was the 80th largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- April 29, 1983
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Valley of the Rogue Bank, Rogue River, OR
- Total assets
- $18,518,000
- Total deposits
- $16,254,000
- Estimated cost to the FDIC
- $4,485,500 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 22808
Other bank failures in Oregon, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| State FS&LA | Corvallis | December 6, 1985 | $563.9 million | $443.9 million | $249 million | Washington FS&LA |
| Citizens S&LA | Salem | December 4, 1985 | $239.7 million | $153.5 million | $85.2 million | Freedom FS&LA |
| Western Heritage FS&LA (assistance) | Pendleton | August 1, 1985 | $175.1 million | $134 million | $8.8 million | Benj Franklin FS&LA |
| Bank of Oregon (assistance) | Woodburn | May 31, 1985 | $117.1 million | $97 million | $18.8 million | Bank of Oregon |
| First State Bank of Elgin | Elgin | April 12, 1985 | $18.2 million | $15.8 million | $4.9 million | United States NB of Oreg |
| Coast Community Bank | Harbor | January 11, 1985 | $9.1 million | $8.5 million | $1.4 million | Security Bank of Coos Co |
| First American Banking Company | Pendleton | November 16, 1984 | $18.6 million | $15.3 million | $2.2 million | Inland Empire Bank |
| Bank of the Northwest | Eugene | August 31, 1984 | $21.8 million | $19.8 million | $1.2 million | First Interstate BK of O |
Other failed banks Valley of the Rogue Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Bear Creek Valley Bank | Phoenix | OR | March 25, 1983 | $13.6 million | $11.2 million | $4.8 million | Valley of the Rogue Bank |
All bank failures in 1983 · All bank failures in Oregon · Every failed bank Valley of the Rogue 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.