Data / Bank failures / 2010 / Towne Bank of Arizona
Towne Bank of Arizona, Mesa, AZ: failed May 7, 2010
Towne Bank of Arizona in Mesa, Arizona, failed on May 7, 2010. Commerce Bank of Arizona of Tucson, AZ, took over its deposits. It held $120.2 million in assets and $113.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $44.3 million (36.9% of its assets). By assets it was the 112th largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- May 7, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Commerce Bank of Arizona, Tucson, AZ
- Total assets
- $120,246,000
- Total deposits
- $113,243,000
- Estimated cost to the FDIC
- $44,322,148 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 57697
Other bank failures in Arizona, 2008 to 2012
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Western National Bank | Phoenix | December 16, 2011 | $162.9 million | $144.5 million | $41.7 million | Washington Federal |
| Summit Bank | Prescott | July 15, 2011 | $73.1 million | $67.5 million | $14.9 million | The Foothills Bank |
| Legacy Bank | Scottsdale | January 7, 2011 | $136.4 million | $119.7 million | $32.2 million | Enterprise Bank & Trust |
| Copper Star Bank | Scottsdale | November 12, 2010 | $204 million | $190.2 million | $52.6 million | Stearns Bank, National Association |
| First Arizona Savings, A FSB | Scottsdale | October 22, 2010 | $255.9 million | $190.6 million | $26.8 million | |
| Desert Hills Bank | Phoenix | March 26, 2010 | $496.6 million | $426.5 million | $108.9 million | New York Community Bank |
| Valley Capital Bank, N.A. | Mesa | December 11, 2009 | $40.3 million | $41.3 million | $15 million | Enterprise Bank & Trust |
| Bank USA, NA | Phoenix | October 30, 2009 | $213.2 million | $170.7 million | $11.7 million | U.S. Bank, NA |
All bank failures in 2010 · 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.