CENTURY BANK Failed 1989
What happened
CENTURY BANK of PHOENIX, AZ was closed on 1989-10-19. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CENTURY BANK (PHOENIX, AZ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2528
- FDIC Certificate
- 20426
- FDIC FIN
- 4105
- Bank name
- CENTURY BANK
- Location
- PHOENIX, AZ
- Failure date
- 1989-10-19
- FDIC resolution date
- 1989-10-19
- 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.)
- $26M
- Deposits at failure
- $120M
- Assets at failure
- $120M
- Acquiring bank
- CENTURY BANK (PHOENIX, AZ)