EDDY COUNTY NATIONAL BANK Failed 1986

What happened

EDDY COUNTY NATIONAL BANK of CARLSBAD, NM was closed on 1986-04-03. The FDIC was named receiver.

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

Deposits were transferred to UNITED NM BANK AT CARLSB (CARLSBAD, NM). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1172

FDIC Certificate

23190

FDIC FIN

2547

Bank name

EDDY COUNTY NATIONAL BANK

Location

CARLSBAD, NM

Failure date

1986-04-03

FDIC resolution date

1986-04-03

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$11M

Deposits at failure

$27M

Assets at failure

$30M

Acquiring bank

UNITED NM BANK AT CARLSB (CARLSBAD, NM)