FIRST NATIONAL BANK IN BOGATA Failed 1988

What happened

FIRST NATIONAL BANK IN BOGATA of BOGATA, TX was closed on 1988-12-15. The FDIC was named receiver.

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

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

Key facts

FDIC ID

2003

FDIC Certificate

16351

FDIC FIN

2944

Bank name

FIRST NATIONAL BANK IN BOGATA

Location

BOGATA, TX

Failure date

1988-12-15

FDIC resolution date

1988-12-15

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$1M

Deposits at failure

$13M

Assets at failure

$13M

Acquiring bank

PEOPLES NATIONAL BANK (BOGATA, TX)