INDEPENDENT BANK-EAST, NATIONAL Failed 1989

What happened

INDEPENDENT BANK-EAST, NATIONAL of ROCKWALL, TX was closed on 1989-06-30. The FDIC was named receiver.

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

Deposits were transferred to AMERICAN NATIONAL BANK OF T (TERRELL, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2407

FDIC Certificate

21155

FDIC FIN

5974

Bank name

INDEPENDENT BANK-EAST, NATIONAL

Location

ROCKWALL, TX

Failure date

1989-06-30

FDIC resolution date

1989-06-30

Charter type

National commercial bank (OCC-chartered)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$15M

Deposits at failure

$36M

Assets at failure

$41M

Acquiring bank

AMERICAN NATIONAL BANK OF T (TERRELL, TX)