KINGSLAND NATIONAL BANK Failed 1988

What happened

KINGSLAND NATIONAL BANK of KINGSLAND, TX was closed on 1988-06-16. The FDIC was named receiver.

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

Deposits were transferred to SECURITY STATE BANK&TRUS (FREDERICKSBURG, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1775

FDIC Certificate

24345

FDIC FIN

2829

Bank name

KINGSLAND NATIONAL BANK

Location

KINGSLAND, TX

Failure date

1988-06-16

FDIC resolution date

1988-06-16

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$4M

Deposits at failure

$15M

Assets at failure

$14M

Acquiring bank

SECURITY STATE BANK&TRUS (FREDERICKSBURG, TX)