MC ALLEN STATE BANK Failed 1988

MC ALLEN, TX · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

MC ALLEN STATE BANK of MC ALLEN, TX was closed on 1988-04-19. The FDIC was named receiver.

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

Deposits were transferred to FIRST CITY NB OF HOUSTON (HOUSTON, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1671
FDIC Certificate
16353
FDIC FIN
2807
Bank name
MC ALLEN STATE BANK
Location
MC ALLEN, TX
Failure date
1988-04-19
FDIC resolution date
1988-04-19
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.)
$2M
Deposits at failure
$556M
Assets at failure
$580M
Acquiring bank
FIRST CITY NB OF HOUSTON (HOUSTON, TX)