FIRST NATIONAL BANK AUSTIN Failed 1988
What happened
FIRST NATIONAL BANK AUSTIN of AUSTIN, 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 FIRST STATE BANK (AUSTIN, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1860
- FDIC Certificate
- 25811
- FDIC FIN
- 2893
- Bank name
- FIRST NATIONAL BANK AUSTIN
- Location
- AUSTIN, 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.)
- $12M
- Deposits at failure
- $27M
- Assets at failure
- $26M
- Acquiring bank
- FIRST STATE BANK (AUSTIN, TX)
Other banks FIRST STATE BANK acquired in FDIC resolutions
- FARMERS' AND TRADERS' STATE BANK (SHABBONA, IL) — failed 2012-06-08
- VALLEY COMMUNITY BANK (ST. CHARLES, IL) — failed 2011-02-25
- FIRST NATIONAL BANK OF CEDAR HILL (CEDAR HILL, TX) — failed 1991-05-16
- FIRST FSA OF WEWOKA (WEWOKA, OK) — failed 1991-03-08
- BANK OF MEEKER (MEEKER, OK) — failed 1990-03-15
- CITIZENS BANK AND TRUST (CALVERT, TX) — failed 1989-03-09
- THE FIRST NATIONAL BANK OF GRACEMONT (GRACEMONT, OK) — failed 1988-11-10
- ROUND ROCK NATIONAL BANK (ROUND ROCK, TX) — failed 1988-10-27
- FRONTIER NATIONAL BANK (ROUND ROCK, TX) — failed 1988-10-27
- FIRST STATE BANK (SEMINOLE, OK) — failed 1988-09-29