INDEPENDENT NATIONAL BANK Failed 1990

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

What happened

INDEPENDENT NATIONAL BANK of PHOENIX, AZ was closed on 1990-03-15. The FDIC was named receiver.

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

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

Key facts

FDIC ID
2700
FDIC Certificate
25649
FDIC FIN
4166
Bank name
INDEPENDENT NATIONAL BANK
Location
PHOENIX, AZ
Failure date
1990-03-15
FDIC resolution date
1990-03-15
Charter type
National commercial bank (OCC-chartered)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$3M
Deposits at failure
$14M
Assets at failure
$12M
Acquiring bank
CITIBANK(ARIZONA) (PHOENIX, AZ)