Bank failure · AZ
Century Bank (Phoenix, AZ) — failed October 19, 1989
Century Bank of Phoenix, Arizona was closed on October 19, 1989 and resolved through a purchase and assumption. Century Bank (AZ) took over its insured deposits. At failure it held $120.4M in assets and $119.9M in deposits. The FDIC's estimated loss on the failure is $25.8M (21.5% of assets).
- Closing date
- October 19, 1989
- FDIC certificate #
- 20426
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Century Bank
- Insurance fund
- BIF
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