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.
Effective Date: November 1, 2020
Publication Date: February 3, 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: 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)
Purchase & Assumption Agreement - PDF (6.1Mb)
Agreement between FDIC and acquiring institution
Report on the bids to purchase the failed bank