CENTRAL ARIZONA BANK Failed 1990

CHANDLER, AZ · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

CENTRAL ARIZONA BANK of CHANDLER, AZ was closed on 1990-04-26. The FDIC was named receiver.

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

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

Key facts

FDIC ID
2741
FDIC Certificate
23002
FDIC FIN
4191
Bank name
CENTRAL ARIZONA BANK
Location
CHANDLER, AZ
Failure date
1990-04-26
FDIC resolution date
1990-04-26
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.)
$1M
Deposits at failure
$7M
Assets at failure
$7M
Acquiring bank
SECURITY PACIFIC BANK ARIZO (PHOENIX, AZ)