FIRST AMERICAN BANK Failed 1989

What happened

FIRST AMERICAN BANK of SAN ANTONIO, 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 JOURDANTON STATE BANK (JOURDANTON, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2383

FDIC Certificate

26547

FDIC FIN

5971

Bank name

FIRST AMERICAN BANK

Location

SAN ANTONIO, TX

Failure date

1989-06-08

FDIC resolution date

1989-06-08

Charter type

State commercial bank, Federal Reserve member

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$3M

Deposits at failure

$14M

Assets at failure

$13M

Acquiring bank

JOURDANTON STATE BANK (JOURDANTON, TX)