FIRST CONSOLIDATED BANK - BUDA Failed 1989

What happened

FIRST CONSOLIDATED BANK - BUDA of BUDA, TX was closed on 1989-10-20. The FDIC was named receiver.

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

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

Key facts

FDIC ID

2539

FDIC Certificate

24302

FDIC FIN

4108

Bank name

FIRST CONSOLIDATED BANK - BUDA

Location

BUDA, TX

Failure date

1989-10-20

FDIC resolution date

1989-10-20

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$5M

Deposits at failure

$15M

Assets at failure

$15M

Acquiring bank

AUSTIN NATIONAL BANK (AUSTIN, TX)