WESTERN NATIONAL BANK Failed 2011

What happened

WESTERN NATIONAL BANK of PHOENIX, AZ was closed on 2011-12-16. The FDIC was named receiver.

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

Deposits were transferred to WASHINGTON FEDERAL (SEATTLE, WA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3981

FDIC Certificate

57917

FDIC FIN

10416

Bank name

WESTERN NATIONAL BANK

Location

PHOENIX, AZ

Failure date

2011-12-16

FDIC resolution date

2011-12-16

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$42M

Deposits at failure

$144M

Assets at failure

$163M

Acquiring bank

WASHINGTON FEDERAL (SEATTLE, WA)