MBANK SHERMAN, NATIONAL ASSOC Failed 1989
What happened
MBANK SHERMAN, NATIONAL ASSOC of SHERMAN, TX was closed on 1989-03-28. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BANK ONE, TEXAS, N.A. (DALLAS, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2287
- FDIC Certificate
- 5528
- FDIC FIN
- 2996
- Bank name
- MBANK SHERMAN, NATIONAL ASSOC
- Location
- SHERMAN, TX
- Failure date
- 1989-03-28
- FDIC resolution date
- 1989-07-05
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $3M
- Deposits at failure
- $271M
- Assets at failure
- $282M
- Acquiring bank
- BANK ONE, TEXAS, N.A. (DALLAS, TX)
Other banks BANK ONE, TEXAS, N.A. acquired in FDIC resolutions
- MBANK THE WOODLANDS, NATIONAL ASSOC (THE WOODLANDS, TX) — failed 1989-03-28
- MBANK HOUSTON, NATIONAL ASSOC (HOUSTON, TX) — failed 1989-03-28
- MBANK ABILENE, NATIONAL ASSOCIATION (ABILENE, TX) — failed 1989-03-28
- MBANK DENTON COUNTY, NATIONAL ASSOC (LEWISVILLE, TX) — failed 1989-03-28
- MBANK MIDCITIES, NATIONAL ASSOC (ARLINGTON, TX) — failed 1989-03-28
- MBANK ORANGE, NATIONAL ASSOC (ORANGE, TX) — failed 1989-03-28
- MBANK ODESSA, NATIONAL ASSOC (ODESSA, TX) — failed 1989-03-28
- MBANK ROUND ROCK, NATIONAL ASSOC (ROUND ROCK, TX) — failed 1989-03-28
- MBANK WICHITA FALLS, NATIONAL ASSOC (WICHITA FALLS, TX) — failed 1989-03-28
- MBANK ALAMO, NATIONAL ASSOCIATION (SAN ANTONIO, TX) — failed 1989-03-28