Community First Bank, Prineville, OR

Community First Bank, Prineville, OR, became the 72nd FDIC-insured bank to fail in 2009 when regulators shuttered the company today.

Community First Bank, Prineville, Oregon, was closed today by the Oregon Division of Finance & Corporate Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Home Federal Bank, Nampa, Idaho, to assume all of the deposits of Community First Bank, excluding those from brokers.

The eight branches of Community First Bank will reopen on Monday as branches of Home Federal Bank. Depositors of Community First Bank will automatically become depositors of Home Federal Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branches until Home Federal Bank can fully integrate the deposit records of Community First Bank.

For more information, visit the official FDIC webpage for Community First Bank.

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