SOUTHWEST NATIONAL BANK Failed 1988

What happened

SOUTHWEST NATIONAL BANK of HOUSTON, TX was closed on 1988-11-03. The FDIC was named receiver.

Resolution: Insured Deposit Transfer — insured deposits transferred to another bank

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

Key facts

FDIC ID

1974

FDIC Certificate

26220

FDIC FIN

5949

Bank name

SOUTHWEST NATIONAL BANK

Location

HOUSTON, TX

Failure date

1988-11-03

FDIC resolution date

1988-11-03

Charter type

National commercial bank (OCC-chartered)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$4M

Deposits at failure

$16M

Assets at failure

$14M

Acquiring bank

SPRING NATIONAL BANK (SPRING, TX)