INDEPENDENT BANK, NATIONAL ASSOC Failed 1989

What happened

INDEPENDENT BANK, NATIONAL ASSOC of COPPELL, TX was closed on 1989-07-14. The FDIC was named receiver.

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

Deposits were transferred to METROPOLITAN NATIONAL BANK (FARMERS BRANCH, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2416

FDIC Certificate

25813

FDIC FIN

5977

Bank name

INDEPENDENT BANK, NATIONAL ASSOC

Location

COPPELL, TX

Failure date

1989-07-14

FDIC resolution date

1989-07-14

Charter type

National commercial bank (OCC-chartered)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$11M

Deposits at failure

$33M

Assets at failure

$35M

Acquiring bank

METROPOLITAN NATIONAL BANK (FARMERS BRANCH, TX)