Bank Failure
Central Arizona Bank
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Closed May 14, 2013 · Scottsdale, AZ · FDIC Cert #34527.
- Closing date
- May 14, 2013
- Headquarters
- Scottsdale, AZ
- FDIC Certificate
- 34527
- Total assets at closing
- $31.6M
- Total deposits at closing
- $30.8M
- Estimated loss to the insurance fund
- $5.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Western State Bank
Context
On May 14, 2013, regulators closed Central Arizona Bank, headquartered in Scottsdale, AZ. At closing, the institution held approximately $31.6M in assets and $30.8M in deposits. The FDIC record names Western State Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $5.4M.
By assets at closing this is the 2013th largest of the 3,526 bank failures in the FDIC record, and the 20th of 24 in 2013. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Central Arizona Bank fail?
Central Arizona Bank was closed by regulators on May 14, 2013.
Who acquired Central Arizona Bank?
The FDIC record names Western State Bank as the acquiring institution in the resolution of Central Arizona Bank.
How big was Central Arizona Bank when it failed?
Central Arizona Bank had approximately $31.6M in total assets and $30.8M in deposits at the time of failure.
Other failures in 2013
| Date | Bank | Assets |
|---|---|---|
| Dec 13, 2013 | Texas Community Bank, N.A. | $159.3M |
| Oct 30, 2013 | Bank of Jackson County | $24.7M |
| Sep 13, 2013 | First National Bank | $3.09B |
| Sep 13, 2013 | The Community's Bank | $26.4M |
| Aug 23, 2013 | Community South Bank | $386.9M |
| Aug 23, 2013 | Sunrise Bank of Arizona | $202.2M |
| Aug 9, 2013 | Bank of Wausau | $43.6M |
| Aug 2, 2013 | First Community Bank of Southwest Florida | $247.3M |
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