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Community First Bank in Prineville, OR, became the 3rd Oregon bank to fail this year on Friday, August 7th, 2009. This latest bank closure pushes the total in 2009 to 72 banks compared to 26 banks in 2008 and only 3 banks in 2007.
All the deposit accounts that were held at Community First Bank have been transferred to Home Federal Bank, Nampa, ID.
On February 13th, 2009, Pinnacle Bank of Oregon in Beaverton, OR, failed followed the next week by the failure of Silver Falls Bank in Silverton, OR.