Bank failure · AZ
Merabank FSB (Phoenix, AZ) — failed January 31, 1990
Merabank FSB of Phoenix, Arizona was closed on January 31, 1990 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $6.3B in assets and $4.8B in deposits. The FDIC's estimated loss on the failure is $671.5M (10.6% of assets).
- Closing date
- January 31, 1990
- FDIC certificate #
- 31400
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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