Bank got caught in 'death spiral'

Number 27443
Subject Banks
Source The Columbian (Vancouver, WA)
State Washington
Year 2009
Publication Date 1/21-22/2009
Summary This story looks at decisions that led to the Bank of Clark County's failure, and determines that the mistakes were twofold, and in the end each made the other worse. By ignoring its own guidelines, the bank issued loans to borrowers who later could not pay them back. By using risky deposits to fund these loans, it created a trap it could not escape.
Category IRE Contest Entry
Pages 7
Keywords FDIC; Federal Deposit Insurance Corporation; Washington State Department of Financial Institutions; Clark County;
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