Joco wrote that FFNW "has huge cash and will be
ok." I'll leave the judgement about whether it will be OK to others, but it is factually incorrect to say they have huge cash. That is a common misperception on this message board, probably because they raised a lot of money in an IPO before the stock market tanked. All of that money was put to work. Compared to their $1.2 billion in assets they have just $5.7 million in cash. That is a pittance compared to their $791 million in deposits.

Having said that, it should be noted that this bank is very well capitalized. Total equity comes to $290 million as of 12/31/08. Compared to that sum their $48 million of impaired loans is not so scary.