THE NORTH AMERICAN BANK Failed 1988
What happened
THE NORTH AMERICAN BANK of PHOENIX, AZ was closed on 1988-01-08. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to COLUMBIA BANK (AVONDALE, AZ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1597
- FDIC Certificate
- 23931
- FDIC FIN
- 5921
- Bank name
- THE NORTH AMERICAN BANK
- Location
- PHOENIX, AZ
- Failure date
- 1988-01-08
- FDIC resolution date
- 1988-01-08
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $4M
- Deposits at failure
- $31M
- Assets at failure
- $32M
- Acquiring bank
- COLUMBIA BANK (AVONDALE, AZ)