COMMONWEALTH BANK Failed 1989
What happened
COMMONWEALTH BANK of ARLINGTON, TX was closed on 1989-10-05. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to COMERICA BANK - TEXAS (DALLAS, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2519
- FDIC Certificate
- 23999
- FDIC FIN
- 5998
- Bank name
- COMMONWEALTH BANK
- Location
- ARLINGTON, TX
- Failure date
- 1989-10-05
- FDIC resolution date
- 1989-10-05
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $16M
- Deposits at failure
- $79M
- Assets at failure
- $75M
- Acquiring bank
- COMERICA BANK - TEXAS (DALLAS, TX)
Other banks COMERICA BANK - TEXAS acquired in FDIC resolutions