Summit Bank
Prescott, AZ · Owner: Central Financial Corp
$73.1M
total assets, June 30, 2011
$73.1M
total assets, June 30, 2011
Summit Bank was a state nonmember bank in Prescott, AZ, owned by Central Financial Corp. It failed on Jul 15, 2011, and The Foothills Bank took over its deposits. At its last report it held $73.1 million in assets.
Updated Oct 11, 2026 · numbers as of June 30, 2011
This bank failed
- Failed on
- Jul 15, 2011
- Assets
- $73.1M
- Deposits
- $67.5M
- Estimated cost
- $14.9M
- Deposits went to
- The Foothills Bank, Yuma, AZ
Total assets
$73.1M
-21.3% in a year · +1.5% in a quarter
Deposits
$67.5M
-20.9% in a year · +1.7% in a quarter
Loans
$57.2M
-18.5% in a year · -3.9% in a quarter
Profit so far
-$1.2M
Jan 1 to Jun 30, 2011
Capital ratio
1.98%
-3.74 pts in a year
Return on assets
-3.24%
-1.96 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 201 North Montezuma St., Prescott, AZ, 86301
- County
- Yavapai
- Holding company
- Central Financial Corp
- Established
- Nov 4, 2002
- Failed
- Jul 15, 2011
- Employees
- 17
- Branches
- 1
- Id
- b57442
Quarter by quarter
December 31, 2002 to June 30, 2011
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is Summit Bank?
$73.1 million in total assets and $67.5 million in deposits as of June 30, 2011, with assets down 21.3% from a year before. Its loans were $57.2 million.
How many branches does Summit Bank have?
1 branch in Arizona as of June 30, 2026.
Is Summit Bank profitable?
No: it lost $1.22 million from January 1 to June 30, 2011. Its return on assets was -3.24% a year; about 1% is typical.
Who owns Summit Bank?
Summit Bank is owned by Central Financial Corp, its holding company.
When did Summit Bank fail?
Jul 15, 2011. The Foothills Bank of Yuma, AZ took over its deposits. The estimated cost of the failure was $14.9 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.