THE FIRST NATIONAL BANK IN LINCOLN COUNTY Failed 1985

What happened

THE FIRST NATIONAL BANK IN LINCOLN COUNTY of RUIDOSO, NM was closed on 1985-12-13. The FDIC was named receiver.

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

Deposits were transferred to FIRST NB OF RUIDOSO (RUIDOSO, NM). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1117

FDIC Certificate

23977

FDIC FIN

2522

Bank name

THE FIRST NATIONAL BANK IN LINCOLN COUNTY

Location

RUIDOSO, NM

Failure date

1985-12-13

FDIC resolution date

1985-12-13

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$17M

Deposits at failure

$31M

Assets at failure

$32M

Acquiring bank

FIRST NB OF RUIDOSO (RUIDOSO, NM)