Bank Failure
Western National Bank
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Closed December 16, 2011 · Phoenix, AZ · FDIC Cert #57917.
- Closing date
- December 16, 2011
- Headquarters
- Phoenix, AZ
- FDIC Certificate
- 57917
- Total assets at closing
- $162.9M
- Total deposits at closing
- $144.5M
- Estimated loss to the insurance fund
- $41.7M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Washington Federal
Context
On December 16, 2011, regulators closed Western National Bank, headquartered in Phoenix, AZ. At closing, the institution held approximately $162.9M in assets and $144.5M in deposits. The FDIC record names Washington Federal as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $41.7M.
By assets at closing this is the 889th largest of the 3,526 bank failures in the FDIC record, and the 59th of 92 in 2011. 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 Western National Bank fail?
Western National Bank was closed by regulators on December 16, 2011.
Who acquired Western National Bank?
The FDIC record names Washington Federal as the acquiring institution in the resolution of Western National Bank.
How big was Western National Bank when it failed?
Western National Bank had approximately $162.9M in total assets and $144.5M in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
| Oct 21, 2011 | Community Banks of Colorado | $1.28B |
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