LAKEWAY NATIONAL BANK Failed 1989

What happened

LAKEWAY NATIONAL BANK of AUSTIN, TX was closed on 1989-03-09. The FDIC was named receiver.

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

Deposits were transferred to FIRST COMMERCIAL BANK, N.A. (SEQUIN, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2173

FDIC Certificate

23590

FDIC FIN

2971

Bank name

LAKEWAY NATIONAL BANK

Location

AUSTIN, TX

Failure date

1989-03-09

FDIC resolution date

1989-03-09

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

$17M

Assets at failure

$17M

Acquiring bank

FIRST COMMERCIAL BANK, N.A. (SEQUIN, TX)