THE COMMONWEALTH BANK Failed 1989

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

What happened

THE COMMONWEALTH BANK of BELLAIRE, TX was closed on 1989-04-12. The FDIC was named receiver.

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

Deposits were transferred to PARK NATIONAL BANK OF HOUST (HOUSTON, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
2352
FDIC Certificate
22151
FDIC FIN
4004
Bank name
THE COMMONWEALTH BANK
Location
BELLAIRE, TX
Failure date
1989-04-12
FDIC resolution date
1989-04-12
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.)
$7M
Deposits at failure
$57M
Assets at failure
$66M
Acquiring bank
PARK NATIONAL BANK OF HOUST (HOUSTON, TX)