Bank failure · AZ
Grand Canyon State Bank (Scottsdale, AZ) — failed May 19, 1989
Grand Canyon State Bank of Scottsdale, Arizona was closed on May 19, 1989 and resolved through a insured deposit transfer. Bank of Fountain Hills (AZ) took over its insured deposits. At failure it held $14.6M in assets and $13.2M in deposits. The FDIC's estimated loss on the failure is $4.4M (29.9% of assets).
- Closing date
- May 19, 1989
- FDIC certificate #
- 23753
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Bank of Fountain Hills
- Insurance fund
- FDIC
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