TOWN & COUNTRY NATIONAL BANK Failed 1988

What happened

TOWN & COUNTRY NATIONAL BANK of HARLINGEN, TX was closed on 1988-08-18. The FDIC was named receiver.

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

Deposits were transferred to HARLINGEN NATIONAL BANK (HARLINGEN, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1859

FDIC Certificate

24194

FDIC FIN

2894

Bank name

TOWN & COUNTRY NATIONAL BANK

Location

HARLINGEN, TX

Failure date

1988-08-18

FDIC resolution date

1988-08-18

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$11M

Deposits at failure

$31M

Assets at failure

$30M

Acquiring bank

HARLINGEN NATIONAL BANK (HARLINGEN, TX)