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Desert Hills Bank shut down by federal regulators

• Arizona Republic

Desert Hills Bank, one of the largest banks headquartered in Arizona, was shut down by banking regulators Friday. New York Community Bank assumed all Desert Hills' deposits, which remain federally insured.

Desert Hills' six branches will reopen on Monday as branches of New York Community Bank, which last year took over the Arizona branches of Ohio-based Amtrust Bank when it went under.


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