Bank failure · AZ

The North American Bank (Phoenix, AZ) — failed January 8, 1988

The North American Bank of Phoenix, Arizona was closed on January 8, 1988 and resolved through a insured deposit transfer. Columbia Bank (AZ) took over its insured deposits. At failure it held $32.3M in assets and $30.7M in deposits. The FDIC's estimated loss on the failure is $3.6M (11.2% of assets).