Data / Bank failures / 2009 / America West Bank
America West Bank, Layton, UT: failed May 1, 2009
America West Bank in Layton, Utah, failed on May 1, 2009. Cache Valley Bank of Logan, UT, took over its deposits. It held $281.6 million in assets and $286 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $114.4 million (40.6% of its assets). By assets it was the 76th largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- May 1, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Cache Valley Bank, Logan, UT
- Total assets
- $281,564,000
- Total deposits
- $286,040,000
- Estimated cost to the FDIC
- $114,351,671 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 35461
Other bank failures in Utah, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Sunfirst Bank | Saint George | November 4, 2011 | $198.1 million | $169.1 million | $43.6 million | Cache Valley Bank |
| Advanta Bank Corp. | Draper | March 19, 2010 | $1.53 billion | $1.52 billion | $521.5 million | |
| Centennial Bank | Ogden | March 5, 2010 | $212.8 million | $205.1 million | $70.5 million | |
| Barnes Banking Company | Kaysville | January 15, 2010 | $709.2 million | $697.1 million | $106.8 million | |
| Magnet Bank | Salt Lake City | January 30, 2009 | $300.7 million | $282.6 million | $170.1 million | |
| Merrill Lynch Bank USA (assistance) | Salt Lake City | January 16, 2009 | $61.81 billion | $53.62 billion |
Other failed banks Cache Valley Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Proficio Bank | Cottonwood Heights | UT | March 3, 2017 | $68.2 million | $65 million | $10.1 million | Cache Valley Bank |
| Sunfirst Bank | Saint George | UT | November 4, 2011 | $198.1 million | $169.1 million | $43.6 million | Cache Valley Bank |
All bank failures in 2009 · All bank failures in Utah · Every failed bank Cache Valley Bank took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.