Bank Failure
The Bank of Verde Valley
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Closed January 16, 1992 · Cottonwood, AZ · FDIC Cert #26954.
- Closing date
- January 16, 1992
- Headquarters
- Cottonwood, AZ
- FDIC Certificate
- 26954
- Total assets at closing
- $10.3M
- Total deposits at closing
- $10.2M
- Estimated loss to the insurance fund
- $1.4M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Stockmens Bank
Context
On January 16, 1992, regulators closed The Bank of Verde Valley, headquartered in Cottonwood, AZ. At closing, the institution held approximately $10.3M in assets and $10.2M in deposits. The FDIC record names Stockmens Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $1.4M.
By assets at closing this is the 2759th largest of the 3,526 bank failures in the FDIC record, and the 172nd of 179 in 1992. 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 The Bank of Verde Valley fail?
The Bank of Verde Valley was closed by regulators on January 16, 1992.
Who acquired The Bank of Verde Valley?
The FDIC record names Stockmens Bank as the acquiring institution in the resolution of The Bank of Verde Valley.
How big was The Bank of Verde Valley when it failed?
The Bank of Verde Valley had approximately $10.3M in total assets and $10.2M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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