WASHINGTON -(Dow Jones)- U.S. regulators closed LibertyBank of Eugene, Ore., bringing the 2010 total of failed banks to 108.
The Oregon Division of Finance and Corporate Securities seized the bank, which had $768.2 million in assets, $718.5 million in deposits and 15 branches. Home Federal Bank, based in Nampa, Idaho, agreed to assume all of its deposits and purchase approximately $419.7 million of the failed bank's assets, the Federal Deposit Insurance Corp. said.
The FDIC said the failure is expected to cost the agency's deposit-insurance fund about $115.3 million.
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