Skip Header
U.S. flag

An official website of the United States government

Failed Bank Information for Towne Bank of Arizona, Mesa, AZ

On Friday, May 7, 2010, Towne Bank of Arizona was closed by the Arizona Department of Financial Institutions. The FDIC was named Receiver. Commerce Bank of Arizona, Tucson, AZ acquired all deposit accounts.

The FDIC as Receiver for Towne Bank of Arizona, Mesa, AZ has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on February 3, 2020 and has made all dividend distributions required by law.

Effective November 1, 2020, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status

TERMINATED

Notice of Termination

Effective Date: November 1, 2020


Notice of Intent to Terminate

Publication Date: February 3, 2020

Dividend Information

Report on dividends paid


Press Release

Official press release

cautionBeware of scams!

Please be advised you will not receive any email notification to claim, unlock or suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

caution

Beware of scams!
Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

ACQUIRING INSTITUTION: COMMERCE BANK OF ARIZONA

About Commerce Bank of Arizona

All deposit accounts, excluding certain brokered deposits, were transferred to Commerce Bank of Arizona, Tucson, AZ ("assuming institution"). Former Towne Bank of Arizona locations reopened as branches of Commerce Bank of Arizona.

Your transferred deposits were separately insured from any accounts you may have already had at Commerce Bank of Arizona for at least six months after the failure of Towne Bank of Arizona.

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Commerce Bank of Arizona as long as the deposits are not pledged as collateral for loans.

Contacting Commerce Bank of Arizona

You can contact Commerce Bank of Arizona:

Commerce Bank of Arizona
3805 East Broadway Boulevard
Tucson, AZ 85716

Commerce Bank of Arizona (www.commercebankaz.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF (6.1Mb)
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank