VALLEY FEDERAL SAVINGS Failed 1989
What happened
VALLEY FEDERAL SAVINGS of MCALLEN, TX was closed on 1989-10-19. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to INTERNATIONAL BANK OF COMME (LAREDO, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2533
- FDIC Certificate
- 29183
- FDIC FIN
- 7111
- Bank name
- VALLEY FEDERAL SAVINGS
- Location
- MCALLEN, TX
- Failure date
- 1989-10-19
- FDIC resolution date
- 1990-06-29
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $235M
- Deposits at failure
- $543M
- Assets at failure
- $517M
- Acquiring bank
- INTERNATIONAL BANK OF COMME (LAREDO, TX)
Other banks INTERNATIONAL BANK OF COMME acquired in FDIC resolutions