FIDELITY BANK Failed 1989
What happened
FIDELITY BANK of SCOTTSDALE, AZ was closed on 1989-07-21. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to THE BANK OF FOUNTAIN HILLS (FOUNTAIN HILLS, AZ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2450
- FDIC Certificate
- 26270
- FDIC FIN
- 4059
- Bank name
- FIDELITY BANK
- Location
- SCOTTSDALE, AZ
- Failure date
- 1989-07-21
- FDIC resolution date
- 1989-07-21
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $3M
- Deposits at failure
- $12M
- Assets at failure
- $11M
- Acquiring bank
- THE BANK OF FOUNTAIN HILLS (FOUNTAIN HILLS, AZ)