Horizon Bank
Bellingham, WA · Owner: Horizon Financial Corp
$1.2B
total assets, December 31, 2009
$1.2B
total assets, December 31, 2009
Horizon Bank was a state nonmember bank in Bellingham, WA, owned by Horizon Financial Corp. It failed on Jan 8, 2010, and Washington Federal Savings And Loan Association took over its deposits. At its last report it held $1.2 billion in assets.
Updated Oct 11, 2026 · numbers as of December 31, 2009
This bank failed
- Failed on
- Jan 8, 2010
- Assets
- $1.2B
- Deposits
- $1.0B
- Estimated cost
- $205M
- Deposits went to
- Washington Federal Savings And Loan Association, Seattle, WA
Total assets
$1.2B
-19.2% in a year · -8.5% in a quarter
Deposits
$1.0B
-12.3% in a year · -10.7% in a quarter
Loans
$939M
-22.7% in a year · -3.7% in a quarter
Profit so far
-$106M
Jan 1 to Dec 31, 2009
Capital ratio
0.81%
-7.20 pts in a year
Return on assets
-7.82%
-7.60 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 1500 Cornwall Avenue, Bellingham, WA, 98225
- County
- Whatcom
- Holding company
- Horizon Financial Corp
- Established
- Nov 9, 1979
- Failed
- Jan 8, 2010
- Employees
- 223
- Branches
- 19
- Id
- b22977
Quarter by quarter
March 31, 1984 to December 31, 2009
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is Horizon Bank?
$1.2 billion in total assets and $1.0 billion in deposits as of December 31, 2009, with assets down 19.2% from a year before. Its loans were $939.1 million.
How many branches does Horizon Bank have?
19 branches in Washington as of June 30, 2026.
Is Horizon Bank profitable?
No: it lost $106.1 million from January 1 to December 31, 2009. Its return on assets was -7.82% a year; about 1% is typical.
Who owns Horizon Bank?
Horizon Bank is owned by Horizon Financial Corp, its holding company.
When did Horizon Bank fail?
Jan 8, 2010. Washington Federal Savings And Loan Association of Seattle, WA took over its deposits. The estimated cost of the failure was $205.5 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.