Failed Bank Information for Copper Star Bank, Scottsdale, AZ
On Friday, November 12, 2010, Copper Star Bank was closed by the Arizona Department of Financial Institutions. The FDIC was named Receiver. Stearns Bank National Association, Saint Cloud, MN acquired all deposit accounts.
The FDIC as Receiver for Copper Star Bank, Scottsdale, AZ has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on December 10, 2020 and has made all dividend distributions required by law.
Effective May 1, 2021, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Effective Date: May 1, 2021
Publication Date: December 10, 2020
Report on dividends paid
Official press release
Beware 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.
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: STEARNS BANK NATIONAL ASSOCIATION
About Stearns Bank National Association
All deposit accounts, excluding certain Cede & Co. deposits, were transferred to Stearns Bank National Association, Saint Cloud, MN ("assuming institution"). Former Copper Star Bank locations reopened as branches of Stearns Bank National Association.
Your transferred deposits were separately insured from any accounts you may have already had at Stearns Bank National Association for at least six months after the failure of Copper Star Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Stearns Bank National Association as long as the deposits are not pledged as collateral for loans.
Contacting Stearns Bank National Association
You can contact Stearns Bank National Association:
Stearns Bank National Association
4191 Second Street South
Saint Cloud, MN 56303
Stearns Bank National Association (www.stearnsbank.com)
Purchase & Assumption Agreement - PDF
Agreement between FDIC and acquiring institution
Report on the bids to purchase the failed bank