UNION BANK & TRUST OF DALLAS Failed 1988
What happened
UNION BANK & TRUST OF DALLAS of DALLAS, TX was closed on 1988-05-05. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CORNERSTONE BANK NA (DALLAS, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1740
- FDIC Certificate
- 22284
- FDIC FIN
- 2813
- Bank name
- UNION BANK & TRUST OF DALLAS
- Location
- DALLAS, TX
- Failure date
- 1988-05-05
- FDIC resolution date
- 1988-05-05
- 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.)
- $8M
- Deposits at failure
- $38M
- Assets at failure
- $37M
- Acquiring bank
- CORNERSTONE BANK NA (DALLAS, TX)
Other banks CORNERSTONE BANK NA acquired in FDIC resolutions