PORT CITY BANK Failed 1988
What happened
PORT CITY BANK of HOUSTON, TX was closed on 1988-01-28. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CHANNELVIEW BANK (CHANNELVIEW, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1612
- FDIC Certificate
- 16489
- FDIC FIN
- 2779
- Bank name
- PORT CITY BANK
- Location
- HOUSTON, TX
- Failure date
- 1988-01-28
- FDIC resolution date
- 1988-01-28
- 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
- $62M
- Assets at failure
- $61M
- Acquiring bank
- CHANNELVIEW BANK (CHANNELVIEW, TX)
Other banks CHANNELVIEW BANK acquired in FDIC resolutions