FIRST AMERICAN BANK & TRUST OF MANVEL Failed 1988
What happened
FIRST AMERICAN BANK & TRUST OF MANVEL of MANVEL, TX was closed on 1988-03-10. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to FIRST NATIONAL BANK OF A (ALVIN, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1641
- FDIC Certificate
- 23547
- FDIC FIN
- 5931
- Bank name
- FIRST AMERICAN BANK & TRUST OF MANVEL
- Location
- MANVEL, TX
- Failure date
- 1988-03-10
- FDIC resolution date
- 1988-03-10
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $4M
- Deposits at failure
- $12M
- Assets at failure
- $12M
- Acquiring bank
- FIRST NATIONAL BANK OF A (ALVIN, TX)