Data / Bank failures / 2002 / Nextbank
Nextbank, Phoenix, AZ: failed February 7, 2002
Nextbank in Phoenix, Arizona, failed on February 7, 2002. It held $700.2 million in assets and $551.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $164 million (23.4% of its assets). By assets it was the 2nd largest of 11 banks closed or assisted in 2002.
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The FDIC's record
- Closed
- February 7, 2002
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $700,180,000
- Total deposits
- $551,297,000
- Estimated cost to the FDIC
- $164,047,132 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 22314
All bank failures in 2002 · All bank failures in Arizona · 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.