THE BANK OF WESTMINSTER Failed 1988

What happened

THE BANK OF WESTMINSTER of WESTMINSTER, CO was closed on 1988-06-22. The FDIC was named receiver.

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

Deposits were transferred to FIRST NB WESTMINSTER (WESTMINSTER, CO). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1777

FDIC Certificate

23942

FDIC FIN

2832

Bank name

THE BANK OF WESTMINSTER

Location

WESTMINSTER, CO

Failure date

1988-06-22

FDIC resolution date

1988-06-22

Charter type

State commercial bank, Federal Reserve member

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$0M

Deposits at failure

$7M

Assets at failure

$7M

Acquiring bank

FIRST NB WESTMINSTER (WESTMINSTER, CO)