Bank failure · AZ
Farmers and Merchants Bank (Buckeye, AZ) — failed June 18, 1990
Farmers and Merchants Bank of Buckeye, Arizona was closed on June 18, 1990 and resolved through a purchase and assumption. The Stockmen'S Bank (AZ) took over its insured deposits. At failure it held $24.0M in assets and $22.4M in deposits. The FDIC's estimated loss on the failure is $5.8M (24.0% of assets).
- Closing date
- June 18, 1990
- FDIC certificate #
- 22852
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- The Stockmen'S Bank
- Insurance fund
- BIF
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