GLOBAL BANK Failed 1988
What happened
GLOBAL BANK of HIALEAH, FL was closed on 1988-02-12. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to OCEAN BANK (MIAMI, FL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1628
- FDIC Certificate
- 25288
- FDIC FIN
- 2785
- Bank name
- GLOBAL BANK
- Location
- HIALEAH, FL
- Failure date
- 1988-02-12
- FDIC resolution date
- 1988-02-12
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $7M
- Deposits at failure
- $20M
- Assets at failure
- $22M
- Acquiring bank
- OCEAN BANK (MIAMI, FL)