HERITAGE NATIONAL BANK Failed 1987

What happened

HERITAGE NATIONAL BANK of AUSTIN, TX was closed on 1987-12-10. The FDIC was named receiver.

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

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

Key facts

FDIC ID

1576

FDIC Certificate

25000

FDIC FIN

2764

Bank name

HERITAGE NATIONAL BANK

Location

AUSTIN, TX

Failure date

1987-12-10

FDIC resolution date

1987-12-10

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$19M

Deposits at failure

$51M

Assets at failure

$53M

Acquiring bank

COMMUNITY NATIONAL BANK (AUSTIN, TX)

Other banks COMMUNITY NATIONAL BANK acquired in FDIC resolutions

• THE LA COSTE NATIONAL BANK (LA COSTE, TX) — failed 2010-02-19
• OAK HILL NATIONAL BANK (TRAVIS COUNTY, TX) — failed 1989-01-12
• CENTURY NATIONAL BANK (AUSTIN, TX) — failed 1988-06-16