Failed Bank List

Closed Friday, January 22, 2010 · Santa Fe, Santa Fe County, New Mexico

Charter Bank

No bank in New Mexico had failed for ten years, since Zia New Mexico Bank closed in 1999. Of the 27 failed banks on record in New Mexico since 1934, Charter Bank ranks third by size. Equity capital was below zero at its last report.

On the books, 2002 to 2009

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$400M$800M$1.2B$1.6B2003200420052006200720082009Closed
Total assets peaked at $1.5 billion in the first quarter of 2008 and were 20% lower at the final report. Equity capital had covered 6.0% of assets in the first quarter of 2002. By then 12% of its loans were 90 days or more past due or no longer accruing interest. The deepest annual loss, $112 million, was booked in 2009.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end$120M−$120M2002: $5.0 million20025.6%2003: $22.4 million20036.6%2004: $9.7 million20046.1%2005: $14.0 million20055.9%2006: $19.3 million20066.0%2007: $17.0 million20076.0%2008: $4.1 million20086.2%2009: −$112 million2009neg.

Size against the other 2010 failures

Total assets of the 157 banks that failed in 2010, log scale$1M$10M$100M$1B$10B$100B
Total assets of each 2010 failure, log scale; Charter Bank in red.

By assets it ranked 15th of the 157 failures in 2010. Across the failures of 2010, the median estimated loss came to 21% of assets. Ranked by estimated loss, it is 285th of 2,944 failures since 1934. In the size ranking of that year, just above it was Advanta Bank Corp. of Draper, Utah ($1.5 billion, loss 34% of assets); just below, Horizon Bank of Bellingham, Washington ($1.2 billion, loss 17% of assets). Every 2010 failure in the explorer.

Regulators closed five banks that day. The largest of the others was Columbia River Bank of The Dalles, Oregon, at $955 million.

Failures in New Mexico

It was one of two banks in New Mexico to fail in 2010. The next was High Desert State Bank of Albuquerque, on June 25, 2010. Santa Fe County has 2 failed banks on FDIC record since 1934. The other: First American Savings Bank, FSB (1990).

Bank failures in New Mexico per year, 1980 to 2026023461983: 11985: 31986: 21988: 11989: 61990: 61991: 41999: 12010: 22011: 119801990200020102020
Per year since 1980, 2010 in red. Every New Mexico failure

FDIC certificate 32498 · loss estimate as of July 31, 2026 · How to read this page