CONTINENTAL NATIONAL BANK Failed 1989

What happened

CONTINENTAL NATIONAL BANK of SAN ANTONIO, TX was closed on 1989-04-20. The FDIC was named receiver.

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

Deposits were transferred to CITIZENS STATE BANK OF LULI (LULING, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2358

FDIC Certificate

22099

FDIC FIN

4008

Bank name

CONTINENTAL NATIONAL BANK

Location

SAN ANTONIO, TX

Failure date

1989-04-20

FDIC resolution date

1989-04-20

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

$13M

Assets at failure

$12M

Acquiring bank

CITIZENS STATE BANK OF LULI (LULING, TX)