MIAMI NATIONAL BANK Failed 1988

What happened

MIAMI NATIONAL BANK of MIAMI, OK was closed on 1988-11-10. The FDIC was named receiver.

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

Deposits were transferred to BANK OF MIAMI (MIAMI, OK). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1978

FDIC Certificate

22342

FDIC FIN

2933

Bank name

MIAMI NATIONAL BANK

Location

MIAMI, OK

Failure date

1988-11-10

FDIC resolution date

1988-11-10

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$2M

Deposits at failure

$10M

Assets at failure

$9M

Acquiring bank

BANK OF MIAMI (MIAMI, OK)