FIRST NATIONAL BANK OF RICHARDSON Failed 1989

What happened

FIRST NATIONAL BANK OF RICHARDSON of RICHARDSON, TX was closed on 1989-06-30. The FDIC was named receiver.

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

Deposits were transferred to DEPOSIT GUARANTY BANK (DALLAS, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2406

FDIC Certificate

19069

FDIC FIN

4031

Bank name

FIRST NATIONAL BANK OF RICHARDSON

Location

RICHARDSON, TX

Failure date

1989-06-30

FDIC resolution date

1989-06-30

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$9M

Deposits at failure

$47M

Assets at failure

$45M

Acquiring bank

DEPOSIT GUARANTY BANK (DALLAS, TX)

Other banks DEPOSIT GUARANTY BANK acquired in FDIC resolutions

• PREMIER BANK, A NATIONAL ASSOCIATION (DALLAS, TX) — failed 1989-03-31
• FIRST BANK OF ROWLETT (ROWLETT, TX) — failed 1989-03-23
• CITIZENS BANK HOUSTON (HOUSTON, TX) — failed 1989-02-09
• CITIZENS BANK (HOUSTON, TX) — failed 1989-02-09
• SECURITY BANK (DALLAS, TX) — failed 1988-10-20
• PIONEER NATIONAL BANK (ARLINGTON, TX) — failed 1988-09-01
• HIGHLAND PARK NATIONAL BANK (DALLAS, TX) — failed 1988-08-25
• PARKWAY BANK & TRUST (DALLAS, TX) — failed 1988-06-09
• CENTRAL NATIONAL BANK (DALLAS, TX) — failed 1988-04-07
• BANK OF DALLAS (DALLAS, TX) — failed 1988-02-05