STEEPLECHASE NATIONAL BANK Failed 1987

What happened

STEEPLECHASE NATIONAL BANK of HOUSTON, TX was closed on 1987-09-17. The FDIC was named receiver.

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

Deposits were transferred to CYPRESS NATIONAL BANK (HOUSTON, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1516

FDIC Certificate

25735

FDIC FIN

2728

Bank name

STEEPLECHASE NATIONAL BANK

Location

HOUSTON, TX

Failure date

1987-09-17

FDIC resolution date

1987-09-17

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$4M

Deposits at failure

$14M

Assets at failure

$16M

Acquiring bank

CYPRESS NATIONAL BANK (HOUSTON, TX)