Bank failure · AZ

Union Bank, National Association (Gilbert, AZ) — failed August 14, 2009

Union Bank, National Association of Gilbert, Arizona was closed on August 14, 2009 and resolved through a purchase and assumption. Midfirst Bank (OK) took over its insured deposits. At failure it held $119.5M in assets and $110.4M in deposits. The FDIC's estimated loss on the failure is $52.0M (43.5% of assets).