SUMMIT BANK Failed 2011

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

What happened

SUMMIT BANK of PRESCOTT, AZ was closed on 2011-07-15. The FDIC was named receiver.

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

Deposits were transferred to THE FOOTHILLS BANK (YUMA, AZ). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3944
FDIC Certificate
57442
FDIC FIN
10379
Bank name
SUMMIT BANK
Location
PRESCOTT, AZ
Failure date
2011-07-15
FDIC resolution date
2011-07-15
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.)
$15M
Deposits at failure
$67M
Assets at failure
$73M
Acquiring bank
THE FOOTHILLS BANK (YUMA, AZ)