FIRST COMMERCE NATIONAL BANK Failed 1989

PHOENIX, AZ · National commercial bank (OCC-chartered) · view on FDIC BankFind ↗

What happened

FIRST COMMERCE NATIONAL BANK of PHOENIX, AZ was closed on 1989-12-07. The FDIC was named receiver.

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

Deposits were transferred to CITICORP(ARIZONA) (PHOENIX, AZ). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
2578
FDIC Certificate
26464
FDIC FIN
4128
Bank name
FIRST COMMERCE NATIONAL BANK
Location
PHOENIX, AZ
Failure date
1989-12-07
FDIC resolution date
1989-12-07
Charter type
National commercial bank (OCC-chartered)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$2M
Deposits at failure
$21M
Assets at failure
$20M
Acquiring bank
CITICORP(ARIZONA) (PHOENIX, AZ)