Regulators have closed a small bank in Arizona, U.S. bank failures this year, the number of 13.
The Federal Deposit Insurance Corporation (FDIC) on Tuesday seized in Central Arizona Bank, headquartered in Scottsdale, Arizona, United States
Loan companies, operating a single branch, about $ 31.6 million in assets and deposits of $ 3.08 billion for March 31.
Western National Bank, headquartered in North Dakota Devils Lake, agreed to assume all the deposits of the failed bank, essentially all of the purchase of its assets.
Central Arizona Bank fails, the Deposit Insurance Fund is expected to cost $ 8.6 million.
The lender is the second FDIC-insured institutions failed in Arizona this year.
U.S. bank failures has been on the decline since they peaked in 2010, in the aftermath of the financial crisis and the Great Recession.
In 2007, there were only three banks go under. This figure jumped to 25 days, after the 2008 financial crisis, surged to 140 in 2009.
Regulatory authorities in 2010 seized 157 banks, savings and loan crisis, the most in any year since the first two decades. Federal Deposit Insurance Corporation said in 2010, is the high-water mark from the recession, bank failures. They fell in 2011 to a total of 92.
Bank failures last year slowed to 51, but still higher than normal levels.
In a strong economy an annual average of only four or five banks closed. Substantially reduced turn off the display speed continuous improvement.
From 2008 to 2011, the cost of bank failures, the deposit insurance fund an estimated $ 88 billion, the fund into the red in 2009. Failure slowdown, the Fund's assets in the second quarter of 2011 from negative to positive.
December 31 was $ 32.9 billion, from $ 2.52 billion U.S. dollars at the end of September.
The FDIC is expected from 2012 to 2016, at a cost of $ 1 billion of bank failures.
 
 



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