MONCOR BANK, N.A. Failed 1985

What happened

MONCOR BANK, N.A. of HOBBS, NM was closed on 1985-08-30. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to UNITED BANK OF LEA COUNT (HOBBS, NM). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1060

FDIC Certificate

16798

FDIC FIN

2495

Bank name

MONCOR BANK, N.A.

Location

HOBBS, NM

Failure date

1985-08-30

FDIC resolution date

1985-08-30

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$54M

Deposits at failure

$220M

Assets at failure

$229M

Acquiring bank

UNITED BANK OF LEA COUNT (HOBBS, NM)