GALENA PARK STATE BANK Failed 1988

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

What happened

GALENA PARK STATE BANK of GALENA PARK, TX was closed on 1988-08-11. The FDIC was named receiver.

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

Deposits were transferred to LOCKWOOD NB OF HOUSTON (HOUSTON, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1852
FDIC Certificate
16077
FDIC FIN
2890
Bank name
GALENA PARK STATE BANK
Location
GALENA PARK, TX
Failure date
1988-08-11
FDIC resolution date
1988-08-11
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.)
$7M
Deposits at failure
$29M
Assets at failure
$25M
Acquiring bank
LOCKWOOD NB OF HOUSTON (HOUSTON, TX)