egulators closed Horizon Bank of Bellingham, Wash.

[BettorsChat]

• Friday's failure. On Friday, regulators closed Horizon Bank of Bellingham, Wash., marking the first bank failure of the year. Washington Federal S&L assumed the $1.1B in deposits, but the resolution cost the FDIC an estimated $539.1M. Small bank failures are expected to peak this year, after 140 banks failed in 2009.

FDIC: Press Releases - PR-4-2010 1/8/2010