State Coverage: Arizona

Florida, Arizona Bank Collapses Drive '11 Failure Total to 92

American Banker | Dec 16

In what is probably the last night for bank collapses in 2011, regulators closed banks in Florida and Arizona, bringing the year's failure tally to 92.

Shareholder Proposal Seeks to "Declassify" Board at Troubled Capitol Bancorp

American Banker | Dec 12

Are disgruntled shareholders trying to seize control of the board Capitol Bancorp Ltd. or at least sack all the directors in one fell swoop?

Capitol Bancorp Says More Divestitures Possible

American Banker | Nov 11

Capitol Bancorp Ltd.'s credit costs are shrinking, but its capital hole is only getting deeper. The $2.5B-asset company reported on Thursday a loss of $22.8M for the third quarter, a 56% improvement from the loss it reported a year earlier.

Arizona Seizes Mortgage Insurer, Cuts Claim Payouts by 50%

-Paul Muolo also contributed to this report | Oct 23

Arizona regulators this week seized control of the troubled mortgage insurance division of PMI Group, Walnut Creek, Calif., according to a notice posted on the company's website.

Western Alliance's Profits Soar in 3Q

American Banker | Oct 18

Earnings for Western Alliance Bancorporation in Phoenix jumped 550% for the third quarter from a year ago to $13 million, due largely to strong loan growth and improved asset quality.

Meridian of Phoenix is Back in the Black

American Banker | Aug 18

Meridian Bank is finally making money again after three years of heavy losses.

Capitol Squeaks Out a Profit, But Problems Persist

American Banker | May 17

The embattled Capitol Bancorp eked out a small profit in the first quarter, thanks largely to a $16.9 million gain on the conversion of trust-preferred securities to common equity.

Two Banks to Use Secure Vault

American Banker | May 16

Two community banks have signed up for Secure Vault Payments, according to eWise Systems, the company working with Nacha to offer the technology.

NCUA Docs Sealed in CU Case

American Banker | May 06

A federal court agreed Thursday to let the NCUA submit records under seal, bolstering its case for the April 15 conservatorship of Vensure Federal Credit Union.

Vensure Challenges NCUA's Takeover

American Banker | Apr 26

Vensure Federal Credit Union, taken under conservatorship by the NCUA two weeks ago, claimed that the regulator knew all along that it was processing online bets for the two ...

Western Alliance 1Q Profit Surges More than 1,200%

American Banker | Apr 25

For the first time in three years, the three banks of Western Alliance Bancorporation in Phoenix all turned a profit in the first quarter.

NCUA Shuts Down 'Virtual' Credit Union

American Banker | Apr 15

Vensure Federal Credit Union in Mesa, Ariz., was taken under conservatorship Friday by the National Credit Union Administration.

With Four Banks Under Order, Capitol's Picture Worsens

American Banker | Mar 29

The FDIC said last week it had issued prompt corrective action orders to four of Capitol Bancorp's banks. The directive to each was clear: Raise capital or find a buyer.

Three Credit Unions Unveil Rare Merger

American Banker | Mar 25

Credit unions in Arizona, Colorado and Wyoming have voted to combine their three state credit union leagues, the latest consolidation of state trade associations.

Summit of Arizona Is On the Block

American Banker | Mar 03

Summit Bank in Prescott, Ariz., has put itself up for sale after its board determined it would not be able to raise enough capital to satisfy a regulatory order.