COMMERCE SA Failed 1989
What happened
COMMERCE SA of SAN ANTONIO, TX was closed on 1989-02-28. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BANK OF AMERICA TX, NA (HOUSTON, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2135
- FDIC Certificate
- 31040
- FDIC FIN
- 7350
- Bank name
- COMMERCE SA
- Location
- SAN ANTONIO, TX
- Failure date
- 1989-02-28
- FDIC resolution date
- 1991-07-12
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $595M
- Deposits at failure
- $801M
- Assets at failure
- $807M
- Acquiring bank
- BANK OF AMERICA TX, NA (HOUSTON, TX)