Monday, May 11, 2009 7:45:35 PM
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6595010
"Westsound Bank’s nine offices reopened on May 11, 2009, as branches of Kitsap Bank. Depositors of Westsound Bank will automatically become depositors of Kitsap Bank. Deposits will continue to be insured by the FDIC, up to the applicable limits established by law.
• In addition to assuming Westsound Bank’s deposits, Kitsap Bank will purchase approximately $49.3 million of Westsound Bank’s assets, consisting of cash, cash equivalents, marketable securities and loans secured by deposits, from FDIC. The FDIC will retain the remaining assets for later disposition."
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