OAK LAWN BANK, N.A. Failed 1988
What happened
OAK LAWN BANK, N.A. of DALLAS, TX was closed on 1988-12-01. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CORNERSTONE BANK NA (DALLAS, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1988
- FDIC Certificate
- 24351
- FDIC FIN
- 2936
- Bank name
- OAK LAWN BANK, N.A.
- Location
- DALLAS, TX
- Failure date
- 1988-12-01
- FDIC resolution date
- 1988-12-01
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $3M
- Deposits at failure
- $11M
- Assets at failure
- $10M
- Acquiring bank
- CORNERSTONE BANK NA (DALLAS, TX)
Other banks CORNERSTONE BANK NA acquired in FDIC resolutions