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Two Spokane banks make struggling banks list

by KREM.com

krem.com

Posted on March 9, 2010 at 8:54 PM

Updated Wednesday, Mar 10 at 2:34 PM

SPOKANE -- Two Spokane-based banks could be in financial trouble.

Sterling Savings and American West Bank just made a Seattle-area list of struggling West Coast banks. 

Both banks are being ordered by the Federal Deposit Insurance Corporation to increase capital.

A total of 32 banks made the list for being slapped with government restrictions during the recession.

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Comments: Displaying 1 - 12 of 12

masterblaster said on March 11, 2010 at 8:28 PM

It never ends.

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hardwroc said on March 11, 2010 at 3:31 PM

I had dealings with one of these banks for a construction loan. They INSISTED I sell my old home in the Calif Bay Area at the bottom of the housing market a decade ago. True genius, to give up a 200 a month positive income, and unload at the low point, apparently not believing real estate would ever increase in Calif. Oh , well, I don't know what I could have done with that extra $300,000 anyway. I so much prefer working an additional 5-10 years instead. And they call these people "professionals"?

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dinspok said on March 10, 2010 at 5:38 PM

Comunidades Federal Credit Union, Kaiser Lakeside Credit Union, Watts United Credit Union are some examples. They don't happen often but they happen. I personally bank at a CU, after spending years working for one of the banks mentioned in this article.

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fixerone said on March 10, 2010 at 4:17 PM

dinspok - So how many have you heard that have closed or on the list? Just curious.

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lisainspokane said on March 10, 2010 at 1:43 PM

Time to start burying coffee/money cans in the yard again, like my grandparents did. Just remember where you bury them. HAhahahaa!

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dinspok said on March 10, 2010 at 9:52 AM

fixerone: Credit Unions fail too.

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takingcrazypills said on March 10, 2010 at 9:19 AM

This is news?

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fixerone said on March 10, 2010 at 12:46 AM

This is why I like Credit Unions.

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zelda said on March 9, 2010 at 11:17 PM

Geez, KREM just picked up on this? Sterling has been on so many "troubled banks" lists that I've lost count. It's almost time for the next set of Failure Friday announcements. 'Round and 'round she goes. Where she stops, nobody knows.

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misjustice said on March 9, 2010 at 9:47 PM

By dips I meant the alledged journalists that write this tripe, not my fellow citizens that post to the site...

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misjustice said on March 9, 2010 at 9:42 PM

NO. you dips...they made the list because they were UNDER capitalized...geez, guess the police weren't available to write this post for you...

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pubcrawler said on March 9, 2010 at 9:42 PM

One wonders; how many banks are in trouble partly because of the extraordinary number of people discharging all of their debts due to uninsured against medical bills. It's significant. Medical expenses are ripping the guts out of middle America.

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