TOWER BANK, N.A. Failed 1985

HIALEAH GARDENS, FL · National commercial bank (OCC-chartered) · view on FDIC BankFind ↗

What happened

TOWER BANK, N.A. of HIALEAH GARDENS, FL was closed on 1985-10-03. The FDIC was named receiver.

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

Deposits were transferred to BAYSHORE BANK OF FLORIDA (MIAMI, FL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1079
FDIC Certificate
24573
FDIC FIN
2500
Bank name
TOWER BANK, N.A.
Location
HIALEAH GARDENS, FL
Failure date
1985-10-03
FDIC resolution date
1985-10-03
Charter type
National commercial bank (OCC-chartered)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$3M
Deposits at failure
$20M
Assets at failure
$21M
Acquiring bank
BAYSHORE BANK OF FLORIDA (MIAMI, FL)