MERITBANC SAVINGS ASSOCIATION Failed 1989
What happened
MERITBANC SAVINGS ASSOCIATION of HOUSTON, TX was closed on 1989-03-16. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to KILGORE FS&LA (KILGORE, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2241
- FDIC Certificate
- 30780
- FDIC FIN
- 7173
- Bank name
- MERITBANC SAVINGS ASSOCIATION
- Location
- HOUSTON, TX
- Failure date
- 1989-03-16
- FDIC resolution date
- 1990-09-14
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $226M
- Deposits at failure
- $322M
- Assets at failure
- $272M
- Acquiring bank
- KILGORE FS&LA (KILGORE, TX)
Other banks KILGORE FS&LA acquired in FDIC resolutions
- FIRST FEDERAL SAVINGS (BEAUMONT, TX) — failed 1991-09-27
- ATLANTA FSA (ATLANTA, TX) — failed 1990-08-31
- FIRST FS & LA (TEMPLE, TX) — failed 1990-08-24
- MARSHALL FS & LA (MARSHALL, TX) — failed 1990-01-18
- FIRST GARLAND FED. S & L (GARLAND, TX) — failed 1989-09-21
- FIRST FED. S & LA OF BRENHAM (BRENHAM, TX) — failed 1989-09-21
- DENTON FEDERAL SAVINGS (DENTON, TX) — failed 1989-08-24
- TAYLORBANC FEDERAL S & L (TAYLOR, TX) — failed 1989-08-17
- FSA OF THE SOUTHWEST (KILGORE, TX) — failed 1989-07-27
- FIRST SAVINGS & LOAN (WACO, TX) — failed 1989-07-13