# FIRST AMERICAN BANK AND TRUST

> **Failed bank** · NORTH PALM BEACH, FL · failed 1989-12-15 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $383M

## What happened

FIRST AMERICAN BANK AND TRUST of NORTH PALM BEACH, FL was closed by regulators 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
- **Estimated FDIC DIF cost:** $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 has acquired in FDIC resolutions

- MERCHANTS TRUST & SAVINGS BANK (KENNER, LA) — failed 1991-02-14 — /failed-bank/3018
- BANK OF ST. CHARLES (ST. ROSE, LA) — failed 1989-11-02 — /failed-bank/2544

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20AMERICAN%20BANK%20AND%20TRUST

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST AMERICAN BANK AND TRUST (FDIC ID 2594), failed 1989-12-15. Retrieved via AI Analytics 2026-06-30 from https://api.ai-analytics.org/failed-bank/2594.

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