Bank failure · AZ
Independent National Bank (Phoenix, AZ) — failed March 15, 1990
Independent National Bank of Phoenix, Arizona was closed on March 15, 1990 and resolved through a purchase and assumption. Citibank(Arizona) (AZ) took over its insured deposits. At failure it held $12.4M in assets and $13.5M in deposits. The FDIC's estimated loss on the failure is $3.2M (26.1% of assets).
- Closing date
- March 15, 1990
- FDIC certificate #
- 25649
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Citibank(Arizona)
- Insurance fund
- BIF
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