NEW MEXICO NATIONAL BANK Failed 1986

What happened

NEW MEXICO NATIONAL BANK of ALBUQUERQUE, NM was closed on 1986-07-17. The FDIC was named receiver.

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

Deposits were transferred to FIRST INTRST BK ALBUQUER (ALBUQUERQUE, NM). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1232

FDIC Certificate

20457

FDIC FIN

2578

Bank name

NEW MEXICO NATIONAL BANK

Location

ALBUQUERQUE, NM

Failure date

1986-07-17

FDIC resolution date

1986-07-17

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$34M

Deposits at failure

$149M

Assets at failure

$159M

Acquiring bank

FIRST INTRST BK ALBUQUER (ALBUQUERQUE, NM)