Bank Failure
Sunrise Bank of Arizona
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Closed August 23, 2013 · Phoenix, AZ · FDIC Cert #34707.
- Closing date
- August 23, 2013
- Headquarters
- Phoenix, AZ
- FDIC Certificate
- 34707
- Total assets at closing
- $202.2M
- Total deposits at closing
- $196.9M
- Estimated loss to the insurance fund
- $15.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Fidelity Bank, N.A.
Context
On August 23, 2013, regulators closed Sunrise Bank of Arizona, headquartered in Phoenix, AZ. At closing, the institution held approximately $202.2M in assets and $196.9M in deposits. The FDIC record names First Fidelity Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $15.4M.
By assets at closing this is the 772nd largest of the 3,526 bank failures in the FDIC record, and the 7th 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 Sunrise Bank of Arizona fail?
Sunrise Bank of Arizona was closed by regulators on August 23, 2013.
Who acquired Sunrise Bank of Arizona?
The FDIC record names First Fidelity Bank, N.A. as the acquiring institution in the resolution of Sunrise Bank of Arizona.
How big was Sunrise Bank of Arizona when it failed?
Sunrise Bank of Arizona had approximately $202.2M in total assets and $196.9M 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 9, 2013 | Bank of Wausau | $43.6M |
| Aug 2, 2013 | First Community Bank of Southwest Florida | $247.3M |
| Jun 7, 2013 | Mountain National Bank | $437.3M |
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