The Graveyard › Banks › 1989
First Commerce National Bank
Phoenix, AZ · failed December 7, 1989 · FDIC certificate 26464
First Commerce National Bank of Phoenix, AZ failed on December 7, 1989. It opened on December 16, 1985, 3 years before. At its last report before that it held $20.3 million in assets and $21.4 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1988, it held $33.1 million. The FDIC estimates that the Bank Insurance Fund lost $2.4 million on it.
1985-121989-09
Assets at the end$20.3 millionlast report before December 7, 1989
Deposits at the end$21.4 million
Estimated loss to the fund$2.4 millionBIF
Largest in the quarterly reports$33.1 millionJune 30, 1988
Equity to assets-6.5%September 30, 1989
Loans not being repaid4.6%noncurrent, September 30, 1989
Return on assets-14.79%a year's rate, September 30, 1989
Staff10full time, September 30, 1989
Also ended in 1989
- Gibraltar Savings, FA · Simi Valley, CA · $13.4 billion in assets
- City Savings, FSB · Somerset, NJ · $9.8 billion in assets
- MBank Dallas, National Association · Dallas, TX · $6.6 billion in assets
- Western Savings & Loan · Phoenix, AZ · $5.7 billion in assets
- Lincoln Savings & Loan · Irvine, CA · $4.9 billion in assets
- University Federal Savings · Houston, TX · $4.5 billion in assets
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.