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Friday, December 16, 2011

Bank Failure #92 in 2011: Western National Bank, Phoenix, Arizona

by Calculated Risk on 12/16/2011 07:20:00 PM

From the FDIC: Washington Federal, Seattle, Washington, Assumes All of the Deposits of Western National Bank, Phoenix, Arizona

As of September 30, 2011, Western National Bank had approximately $162.9 million in total assets and $144.5 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $37.6 million. ... Western National Bank is the 92nd FDIC-insured institution to fail in the nation this year, and the third in Arizona.
Two today so far ... this is probably the last closing day of the year.