NATIONAL BANK OF ARIZONA Failed 1989

What happened

NATIONAL BANK OF ARIZONA of SCOTTSDALE, AZ was closed on 1989-09-28. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to SECURITY PACIFIC BANK, NATI (SCOTTSDALE, AZ). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2515

FDIC Certificate

24889

FDIC FIN

5995

Bank name

NATIONAL BANK OF ARIZONA

Location

SCOTTSDALE, AZ

Failure date

1989-09-28

FDIC resolution date

1989-09-28

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$4M

Deposits at failure

$16M

Assets at failure

$16M

Acquiring bank

SECURITY PACIFIC BANK, NATI (SCOTTSDALE, AZ)