Data / Bank failures / 1990 / Guardian Bank
Guardian Bank, Scottsdale, AZ: failed April 26, 1990
Guardian Bank in Scottsdale, Arizona, failed on April 26, 1990. Citibank (arizona) of Phoenix, AZ, took over its deposits. It held $25.9 million in assets and $27 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $8.4 million (32.3% of its assets). By assets it was the 291st largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- April 26, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Citibank (arizona), Phoenix, AZ
- Total assets
- $25,901,000
- Total deposits
- $27,020,000
- Estimated cost to the FDIC
- $8,368,926 (estimate as of July 31, 2026)
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- BIF
- FDIC certificate
- 25666
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 |
| Central Arizona Bank | Chandler | April 26, 1990 | $6.6 million | $7.1 million | $1 million | Security Pacific Bank Arizo |
| Independent National Bank | Phoenix | March 15, 1990 | $12.4 million | $13.5 million | $3.2 million | Citibank(arizona) |
Other failed banks Citibank (arizona) took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Gateway National Bank | Phoenix | AZ | February 15, 1990 | $8.6 million | $8.2 million | $5.9 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.