Data / Bank failures / 2010 / Pierce Commercial Bank
Pierce Commercial Bank, Tacoma, WA: failed November 5, 2010
Pierce Commercial Bank in Tacoma, Washington, failed on November 5, 2010. Heritage Bank of Olympia, WA, took over its deposits. It held $221.1 million in assets and $193.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $26.8 million (12.1% of its assets). By assets it was the 87th largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- November 5, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Heritage Bank, Olympia, WA
- Total assets
- $221,082,000
- Total deposits
- $193,473,000
- Estimated cost to the FDIC
- $26,753,764 (estimate as of July 31, 2026)
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- DIF
- FDIC certificate
- 34411
Other bank failures in Washington, 2008 to 2012
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Bank of Whitman | Colfax | August 5, 2011 | $548.6 million | $515.7 million | $100.9 million | Columbia State Bank |
| First Heritage Bank | Snohomish | May 27, 2011 | $173.5 million | $163.3 million | $33.6 million | Columbia State Bank |
| Summit Bank | Burlington | May 20, 2011 | $142.7 million | $131.6 million | $24.2 million | Columbia State 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 |
| Frontier Bank | Everett | April 30, 2010 | $3.25 billion | $2.85 billion | $453.9 million | Union Bank, National Association |
Other failed banks Heritage Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Cowlitz Bank | Longview | WA | July 30, 2010 | $489 million | $474.7 million | $31.3 million | Heritage Bank |
| Sherman County Bank | Loup City | NE | February 13, 2009 | $135.4 million | $90.6 million | $42.7 million | Heritage Bank |
All bank failures in 2010 · All bank failures in Washington · Every failed bank Heritage 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.