DESERT HILLS BANK Failed 2010
What happened
DESERT HILLS BANK of PHOENIX, AZ was closed on 2010-03-26. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to NEW YORK COMMUNITY BANK (WESTBURY, NY). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3773
- FDIC Certificate
- 57060
- FDIC FIN
- 10205
- Bank name
- DESERT HILLS BANK
- Location
- PHOENIX, AZ
- Failure date
- 2010-03-26
- FDIC resolution date
- 2010-03-26
- 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.)
- $109M
- Deposits at failure
- $426M
- Assets at failure
- $497M
- Acquiring bank
- NEW YORK COMMUNITY BANK (WESTBURY, NY)
Other banks NEW YORK COMMUNITY BANK acquired in FDIC resolutions