Friday, August 23, 2013

Bank Failure #20: Sunrise Bank of Arizona, Phoenix, Arizona

From the FDIC: First Fidelity Bank, National Association, Oklahoma City, Oklahoma, Assumes All of the Deposits of Sunrise Bank of Arizona, Phoenix, Arizona
As of June 30, 2013, Sunrise Bank of Arizona had approximately $202.2 million in total assets and $196.9 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $17.0 million. ... Sunrise Bank of Arizona is the 20th FDIC-insured institution to fail in the nation this year, and the third in Arizona.
Sunset in the desert ... and two in one day ... a few years ago that would have been a slow Friday.

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