HOBBY COMMUNITY BANK Failed 1989

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

What happened

HOBBY COMMUNITY BANK of HOUSTON, TX was closed on 1989-06-29. The FDIC was named receiver.

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

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

Key facts

FDIC ID
2398
FDIC Certificate
26969
FDIC FIN
4030
Bank name
HOBBY COMMUNITY BANK
Location
HOUSTON, TX
Failure date
1989-06-29
FDIC resolution date
1989-06-29
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.)
$3M
Deposits at failure
$8M
Assets at failure
$8M
Acquiring bank
IOLA STATE BANK (IOLA, TX)