# THE AMERICAN BANK

> **Failed bank** · PALESTINE, TX · failed 1988-07-14 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $4M

## What happened

THE AMERICAN BANK of PALESTINE, TX was closed by regulators on **1988-07-14**. The FDIC was named receiver.

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

Deposits were transferred to **ROYALL NB OF PALESTINE** (PALESTINE, TX). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1791
- **FDIC Certificate:** 23082
- **FDIC FIN:** 2840
- **Bank name:** THE AMERICAN BANK
- **Location:** PALESTINE, TX
- **Failure date:** 1988-07-14
- **FDIC resolution date:** 1988-07-14
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $4M
- **Deposits at failure:** $20M
- **Assets at failure:** $21M
- **Acquiring bank:** ROYALL NB OF PALESTINE (PALESTINE, TX)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=THE%20AMERICAN%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE AMERICAN BANK (FDIC ID 1791), failed 1988-07-14. Retrieved via AI Analytics 2026-05-19 from https://api.ai-analytics.org/failed-bank/1791.

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