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FDIC Closed Another Bank Tuesday

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WASHINGTON (5/16/13)--The Federal Deposit Insurance Corp. announced Tuesday that one bank was shuttered and its assets assumed by another bank.

Central Arizona Bank, Scottsdale, Ariz., was assumed by Western State Bank, Devils Lake, N.D. Central Arizona Bank had about $31.6 million in total assets and roughly $30.8 million in total Deposits.

The failure brings the number of total bank failures this year to 13. The cost of the failure will be $8.6 million, FDIC estimated.