LAKE COUNTRY NATIONAL BANK Failed 1989

What happened

LAKE COUNTRY NATIONAL BANK of BURNET, TX was closed on 1989-06-08. The FDIC was named receiver.

Resolution: Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to LAKE BUCHANAN STATE BANK (BUCHANAN DAM, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2382

FDIC Certificate

24542

FDIC FIN

5970

Bank name

LAKE COUNTRY NATIONAL BANK

Location

BURNET, TX

Failure date

1989-06-08

FDIC resolution date

1989-06-08

Charter type

National commercial bank (OCC-chartered)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$2M

Deposits at failure

$8M

Assets at failure

$8M

Acquiring bank

LAKE BUCHANAN STATE BANK (BUCHANAN DAM, TX)