Bank failure · AZ
Central Arizona Bank (Chandler, AZ) — failed April 26, 1990
Central Arizona Bank of Chandler, Arizona was closed on April 26, 1990 and resolved through a purchase and assumption. Security Pacific Bank Arizo (AZ) took over its insured deposits. At failure it held $6.6M in assets and $7.1M in deposits. The FDIC's estimated loss on the failure is $1.0M (15.5% of assets).
- Closing date
- April 26, 1990
- FDIC certificate #
- 23002
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Security Pacific Bank Arizo
- Insurance fund
- BIF
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