Failed Bank List

Closed Friday, June 25, 2010 · Albuquerque, Bernalillo County, New Mexico

High Desert State Bank

In the three years to the first quarter of 2007, High Desert State Bank's assets grew 213%. Equity capital was below zero at its last report. It reported a net loss in five of its final nine reporting years.

On the books, 2002 to 2010

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$30M$60M$90M$120M2003200420052006200720082009Closed
Total assets peaked at $101 million and were 21% lower at the final report. Equity capital had covered 9.9% of assets in the second quarter of 2002. By then 29% of its loans were 90 days or more past due or no longer accruing interest. The deepest annual loss, $7.4 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$8M−$8M2002: −$113 thousand200212%2003: −$67 thousand200311%2004: $104 thousand20049.6%2005: $725 thousand20058.9%2006: $2.4 million20068.5%2007: $1.5 million200710%2008: −$630 thousand200811%2009: −$7.4 million20093.5%2010: −$3.6 million2010*neg.
* 2010: January to March only, the last report before closing.

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; High Desert State Bank in red.

By assets it ranked 130th of the 157 failures in 2010. Within New Mexico it ranks 13th by size of the 27 failures recorded since 1934. Across the failures of 2010, the median estimated loss came to 21% of assets. In the size ranking of that year, just above it was ISN Bank of Cherry Hill, New Jersey ($81.6 million, loss 23% of assets); just below, First Bank of Jacksonville of Jacksonville, Florida ($73.9 million, loss 19% of assets). Every 2010 failure in the explorer.

Two other banks closed that day; the largest was Peninsula Bank of Englewood, Florida, at $630 million.

Failures in New Mexico

It was one of two banks in New Mexico to fail in 2010. The previous failure there was Charter Bank of Santa Fe, on January 22, 2010. The next was First Community Bank of Taos, on January 28, 2011. Bernalillo County has 9 failed banks on FDIC record since 1934. Closest in time: American Federal Savings and Loan Association (1989), New Mexico Federal Savings and Loan (1989), Abq Bank, A Federal Savings Bank (1990), Southwest National Bank (1991), Security Federal Savings and Loan Association of Albuquerque (1991).

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 35279 · loss estimate as of July 31, 2026 · How to read this page