NATIONAL BANK OF COMMERCE OF BROWNSVILLE Failed 1989

What happened

NATIONAL BANK OF COMMERCE OF BROWNSVILLE of BROWNSVILLE, TX was closed on 1989-07-13. The FDIC was named receiver.

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

Deposits were transferred to TEXAS COMMERCE BANK RIO GRA (BROWNSVILLE, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2410

FDIC Certificate

19431

FDIC FIN

4033

Bank name

NATIONAL BANK OF COMMERCE OF BROWNSVILLE

Location

BROWNSVILLE, TX

Failure date

1989-07-13

FDIC resolution date

1989-07-13

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$17M

Deposits at failure

$35M

Assets at failure

$35M

Acquiring bank

TEXAS COMMERCE BANK RIO GRA (BROWNSVILLE, TX)