BANK OF BRAZORIA Failed 1987
What happened
BANK OF BRAZORIA of BRAZORIA, TX was closed on 1987-07-02. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to MOULTON STATE BANK (MOULTON, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1463
- FDIC Certificate
- 18279
- FDIC FIN
- 2705
- Bank name
- BANK OF BRAZORIA
- Location
- BRAZORIA, TX
- Failure date
- 1987-07-02
- FDIC resolution date
- 1987-07-02
- 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.)
- $4M
- Deposits at failure
- $24M
- Assets at failure
- $24M
- Acquiring bank
- MOULTON STATE BANK (MOULTON, TX)