Data / Bank failures / 1990 / Gateway National Bank
Gateway National Bank, Phoenix, AZ: failed February 15, 1990
Gateway National Bank in Phoenix, Arizona, failed on February 15, 1990. Citibank (arizona) of Phoenix, AZ, took over its deposits. It held $8.6 million in assets and $8.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $5.9 million (68.2% of its assets). By assets it was the 373rd largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- February 15, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Citibank (arizona), Phoenix, AZ
- Total assets
- $8,598,000
- Total deposits
- $8,209,000
- Estimated cost to the FDIC
- $5,864,275 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 26667
Other bank failures in Arizona, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Columbia Bank | Avondale | February 27, 1992 | $17 million | $16.9 million | $3.7 million | Valley NB of Arizona |
| Fountain Bank | Scottsdale | January 31, 1992 | $15.6 million | $16.1 million | $4.7 million | Bank of Arizona |
| The Bank of Verde Valley | Cottonwood | January 16, 1992 | $10.3 million | $10.2 million | $1.4 million | Stockmens Bank |
| First American FSB | Tucson | August 16, 1991 | $145 million | $130.3 million | $11.2 million | State SB, FSB |
| Arizona Commerce Bank | Tucson | April 12, 1991 | $80.8 million | $79.8 million | $7.3 million | Arizona Bank of Commerce |
| Farmers and Merchants Bank | Buckeye | June 18, 1990 | $24 million | $22.4 million | $5.8 million | The Stockmen's Bank |
| Guardian Bank | Scottsdale | April 26, 1990 | $25.9 million | $27 million | $8.4 million | Citibank (arizona) |
| Central Arizona Bank | Chandler | April 26, 1990 | $6.6 million | $7.1 million | $1 million | Security Pacific Bank Arizo |
Other failed banks Citibank (arizona) took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Guardian Bank | Scottsdale | AZ | April 26, 1990 | $25.9 million | $27 million | $8.4 million | Citibank (arizona) |
All bank failures in 1990 · All bank failures in Arizona · Every failed bank Citibank (arizona) 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.