Well before federal regulators shut down Washington Mutual Bank on Thursday, deposits began surging at the $1.4 billion-asset Oritani Financial Corp. in Washington Township, N.J.

"We've seen a huge amount of inflow in the last few months, quite a bit of it from Wamu," said Kevin J. Lynch, Oritani's chairman, president, and chief executive officer. "I'm sorry to see Wamu go, and their shareholders and debtholders get hurt. But it's a great opportunity for a community bank like us."

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