Bank Failure
Southwestern Bank
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Closed September 25, 1981 · Tucson, AZ · FDIC Cert #20778.
- Closing date
- September 25, 1981
- Headquarters
- Tucson, AZ
- FDIC Certificate
- 20778
- Total assets at closing
- $5.3M
- Total deposits at closing
- $5.0M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
Context
On September 25, 1981, regulators closed Southwestern Bank, headquartered in Tucson, AZ. At closing, the institution held approximately $5.3M in assets and $5.0M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 2979th largest of the 3,526 bank failures in the FDIC record, and the 8th of 9 in 1981. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Southwestern Bank fail?
Southwestern Bank was closed by regulators on September 25, 1981.
How big was Southwestern Bank when it failed?
Southwestern Bank had approximately $5.3M in total assets and $5.0M in deposits at the time of failure.
Other failures in 1981
| Date | Bank | Assets |
|---|---|---|
| Oct 30, 1981 | Midtown National Bank | $10.6M |
| Oct 23, 1981 | High Lakes Community Bank | $3.7M |
| Sep 8, 1981 | First FS&LA of Rochester | $1.20B |
| Jun 19, 1981 | Northwest Commerce Bank | $6.7M |
| May 18, 1981 | Economy S&LA | $73.9M |
| Mar 17, 1981 | Peoples Banking Company | $8.4M |
| Mar 14, 1981 | The Des Plaines Bank | $46.5M |
| Mar 14, 1981 | South Side Bank | $27.5M |
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