Bank failure · AZ
Summit Bank (Prescott, AZ) — failed July 15, 2011
Summit Bank of Prescott, Arizona was closed on July 15, 2011 and resolved through a purchase and assumption. The Foothills Bank (AZ) took over its insured deposits. At failure it held $73.1M in assets and $67.5M in deposits. The FDIC's estimated loss on the failure is $14.9M (20.3% of assets).
- Closing date
- July 15, 2011
- FDIC certificate #
- 57442
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- The Foothills Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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