On Friday, January 8, 2010, Horizon Bank was closed by the Washington State Department of Financial Institutions. The FDIC was named Receiver. Washington Federal Savings and Loan Association, Seattle, WA acquired all deposit accounts.
The FDIC as Receiver for Horizon Bank, Bellingham, WA has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on September 20, 2021 and has made all dividend distributions required by law.
Effective August 1, 2022, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Receivership Status: TERMINATED
Notice of Termination
Notice of Intent to Terminate
Dividend Information
Press Release
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ACQUIRING INSTITUTION: Washington Federal Savings and Loan Association
About Washington Federal Savings and Loan Association
All deposit accounts, excluding certain brokered deposits, were transferred to Washington Federal Savings and Loan Association, Seattle, WA ("assuming institution"). Former Horizon Bank locations reopened as branches of Washington Federal Savings and Loan Association.
Your transferred deposits were separately insured from any accounts you may have already had at Washington Federal Savings and Loan Association for at least six months after the failure of Horizon Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Washington Federal Savings and Loan Association as long as the deposits are not pledged as collateral for loans.
Contacting Washington Federal Savings and Loan Association
You can contact Washington Federal Savings and Loan Association:
Washington Federal Savings and Loan Association
425 Pike Street
Seattle, WA 98101
Washington Federal Savings and Loan Association (www.wafdbank.com)
Transaction Documentation
Purchase & Assumption Agreement - PDF (0.5Mb)
Agreement between FDIC and acquiring institution
Bid Summary
Report on the bids to purchase the failed bank