NEW WORLD NATIONAL BANK Failed 1987
What happened
NEW WORLD NATIONAL BANK of PITTSBURGH, PA was closed on 1987-10-22. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to LINCOLN NATIONAL BANK (PITTSBURGH, PA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1544
- FDIC Certificate
- 21951
- FDIC FIN
- 2741
- Bank name
- NEW WORLD NATIONAL BANK
- Location
- PITTSBURGH, PA
- Failure date
- 1987-10-22
- FDIC resolution date
- 1987-10-22
- 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
- $15M
- Assets at failure
- $15M
- Acquiring bank
- LINCOLN NATIONAL BANK (PITTSBURGH, PA)
Other banks LINCOLN NATIONAL BANK acquired in FDIC resolutions