SEALY NATIONAL BANK Failed 1987

What happened

SEALY NATIONAL BANK of SEALY, TX was closed on 1987-03-05. The FDIC was named receiver.

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

Deposits were transferred to AUSTIN COUNTY STATE BANK (BELLVILLE, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1380

FDIC Certificate

25326

FDIC FIN

2656

Bank name

SEALY NATIONAL BANK

Location

SEALY, TX

Failure date

1987-03-05

FDIC resolution date

1987-03-05

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$2M

Deposits at failure

$8M

Assets at failure

$8M

Acquiring bank

AUSTIN COUNTY STATE BANK (BELLVILLE, TX)