Bank failure · AZ
Towne Bank of Arizona (Mesa, AZ) — failed May 7, 2010
Towne Bank of Arizona of Mesa, Arizona was closed on May 7, 2010 and resolved through a purchase and assumption. Commerce Bank of Arizona (AZ) took over its insured deposits. At failure it held $120.2M in assets and $113.2M in deposits. The FDIC's estimated loss on the failure is $44.3M (36.9% of assets).
- Closing date
- May 7, 2010
- FDIC certificate #
- 57697
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Commerce Bank of Arizona
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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