MERCANTILE BANK & TRUST Failed 1988

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

What happened

MERCANTILE BANK & TRUST of SAN ANTONIO, TX was closed on 1988-06-30. The FDIC was named receiver.

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

Deposits were transferred to GROOS BANK NATIONAL ASSN (SAN ANTONIO, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1785
FDIC Certificate
18167
FDIC FIN
2839
Bank name
MERCANTILE BANK & TRUST
Location
SAN ANTONIO, TX
Failure date
1988-06-30
FDIC resolution date
1988-06-30
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.)
$12M
Deposits at failure
$82M
Assets at failure
$76M
Acquiring bank
GROOS BANK NATIONAL ASSN (SAN ANTONIO, TX)