Bank failure · NM

High Desert State Bank (Albuquerque, NM) — failed June 25, 2010

High Desert State Bank of Albuquerque, New Mexico was closed on June 25, 2010 and resolved through a purchase and assumption. First American Bank (NM) took over its insured deposits. At failure it held $80.3M in assets and $81.0M in deposits. The FDIC's estimated loss on the failure is $28.4M (35.3% of assets).