TOWNE BANK OF ARIZONA Failed 2010

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

What happened

TOWNE BANK OF ARIZONA of MESA, AZ was closed on 2010-05-07. The FDIC was named receiver.

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

Deposits were transferred to COMMERCE BANK OF ARIZONA (TUCSON, AZ). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3801
FDIC Certificate
57697
FDIC FIN
10235
Bank name
TOWNE BANK OF ARIZONA
Location
MESA, AZ
Failure date
2010-05-07
FDIC resolution date
2010-05-07
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.)
$44M
Deposits at failure
$113M
Assets at failure
$120M
Acquiring bank
COMMERCE BANK OF ARIZONA (TUCSON, AZ)