Bank failure · AZ
Desert Hills Bank (Phoenix, AZ) — failed March 26, 2010
Desert Hills Bank of Phoenix, Arizona was closed on March 26, 2010 and resolved through a purchase and assumption. New York Community Bank (NY) took over its insured deposits. At failure it held $496.6M in assets and $426.5M in deposits. The FDIC's estimated loss on the failure is $108.9M (21.9% of assets).
- Closing date
- March 26, 2010
- FDIC certificate #
- 57060
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- New York Community Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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