BANCFIRST-WESTLAKE, N.A. Failed 1988

What happened

BANCFIRST-WESTLAKE, N.A. of AUSTIN, TX was closed on 1988-08-25. The FDIC was named receiver.

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

Deposits were transferred to UNION NATIONAL BANK OF T (AUSTIN, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1879

FDIC Certificate

25143

FDIC FIN

2897

Bank name

BANCFIRST-WESTLAKE, N.A.

Location

AUSTIN, TX

Failure date

1988-08-25

FDIC resolution date

1988-08-25

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$5M

Deposits at failure

$16M

Assets at failure

$15M

Acquiring bank

UNION NATIONAL BANK OF T (AUSTIN, TX)