On Friday, June 25, 2010, High Desert State Bank was closed by the New Mexico Financial Institutions Division. The FDIC was named Receiver. First American Bank, Artesia, NM acquired all deposit accounts.
The FDIC as Receiver for High Desert State Bank, Albuquerque, NM has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on February 21, 2018 and has made all dividend distributions required by law.
Effective June 1, 2018, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Receivership Status: TERMINATED
Notice of Termination
Notice of Intent to Terminate
Dividend Information
Press Release
Beware of scams!
Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.
ACQUIRING INSTITUTION: FIRST AMERICAN BANK
About First American Bank
All deposit accounts were transferred to First American Bank, Artesia, NM ("assuming institution"). Former High Desert State Bank locations reopened as branches of First American Bank.
Your transferred deposits were separately insured from any accounts you may have already had at First American Bank for at least six months after the failure of High Desert State Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with First American Bank as long as the deposits are not pledged as collateral for loans.
Contacting First American Bank
You can contact First American Bank:
First American Bank
303 W Main Street
Artesia, NM 88210
First American Bank (www.firstamb.net)
Transaction Documentation
Purchase & Assumption Agreement - PDF (2Mb)
Agreement between FDIC and acquiring institution
Bid Summary
Report on the bids to purchase the failed bank