THE BANK OF VERDE VALLEY Failed 1992
What happened
THE BANK OF VERDE VALLEY of COTTONWOOD, AZ was closed on 1992-01-16. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to STOCKMENS BANK (KINGMAN, AZ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3257
- FDIC Certificate
- 26954
- FDIC FIN
- 4438
- Bank name
- THE BANK OF VERDE VALLEY
- Location
- COTTONWOOD, AZ
- Failure date
- 1992-01-16
- FDIC resolution date
- 1992-01-16
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $1M
- Deposits at failure
- $10M
- Assets at failure
- $10M
- Acquiring bank
- STOCKMENS BANK (KINGMAN, AZ)