For the second time in just over a week, Tacoma-based Columbia Banking System has purchased a troubled Northwest bank.
The Federal Deposit Insurance Corp announced this evening that Columbia has purchased American Marine Bank of Bainbridge Island..
American Marine was closed today by the Washington Department of Financial Institutions, which appointed the FDIC as receiver. The FDIC entered into a purchase and assumption agreement with Columbia State Bank to assume all of the deposits of American Marine Bank.
The 11 branches of American Marine Bank will reopen on Saturday as branches of Columbia Bank, the FDIC said in a …