FIRST AMERICAN BANK AND TRUST Failed 1989
What happened
FIRST AMERICAN BANK AND TRUST of NORTH PALM BEACH, FL was closed on 1989-12-15. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST AMERICAN BANK AND TRU (NORTH PALM BEACH, FL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2594
- FDIC Certificate
- 18002
- FDIC FIN
- 4137
- Bank name
- FIRST AMERICAN BANK AND TRUST
- Location
- NORTH PALM BEACH, FL
- Failure date
- 1989-12-15
- FDIC resolution date
- 1990-04-20
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $383M
- Deposits at failure
- $1,006M
- Assets at failure
- $1,383M
- Acquiring bank
- FIRST AMERICAN BANK AND TRU (NORTH PALM BEACH, FL)
Other banks FIRST AMERICAN BANK AND TRU acquired in FDIC resolutions