Central Arizona Bank Fails – Third Bank Failure In A Week For Capitol Bancorp, Ltd

In an unusual weekday action, state regulators closed Central Arizona Bank, Scottsdale, AZ, and appointed the FDIC as receiver.  To protect depositors, the FDIC sold the failed bank to Western State Bank, Devils Lake, North Dakota, which will assume all deposits of Central Arizona Bank. With only $31.6 million in assets, the failure of Central […]