ABQ BANK, A FSB Failed 1990

What happened

ABQ BANK, A FSB of ALBUQUERQUE, NM was closed on 1990-02-09. The FDIC was named receiver.

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

Deposits were transferred to BANK OF AMERICA NM, NA (ALBUQUERQUE, NM). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2648

FDIC Certificate

29127

FDIC FIN

7280

Bank name

ABQ BANK, A FSB

Location

ALBUQUERQUE, NM

Failure date

1990-02-09

FDIC resolution date

1991-03-01

Charter type

Savings bank

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$434M

Deposits at failure

$1,468M

Assets at failure

$2,019M

Acquiring bank

BANK OF AMERICA NM, NA (ALBUQUERQUE, NM)