BANK OF THE WEST Failed 1989

AUSTIN, TX · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

BANK OF THE WEST 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 THE BANK OF THE WEST (AUSTIN, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
2174
FDIC Certificate
25662
FDIC FIN
2970
Bank name
BANK OF THE WEST
Location
AUSTIN, TX
Failure date
1989-03-09
FDIC resolution date
1989-03-09
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$16M
Deposits at failure
$47M
Assets at failure
$47M
Acquiring bank
THE BANK OF THE WEST (AUSTIN, TX)