WESTERN BANK Failed 1987
What happened
WESTERN BANK of EL PASO, TX was closed on 1987-03-12. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to MBANK EL PASO NATIONAL A (EL PASO, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1383
- FDIC Certificate
- 20915
- FDIC FIN
- 2660
- Bank name
- WESTERN BANK
- Location
- EL PASO, TX
- Failure date
- 1987-03-12
- FDIC resolution date
- 1987-03-12
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $13M
- Deposits at failure
- $46M
- Assets at failure
- $47M
- Acquiring bank
- MBANK EL PASO NATIONAL A (EL PASO, TX)