NORTHWAY NATIONAL BANK Failed 1990

What happened

NORTHWAY NATIONAL BANK of DALLAS, TX was closed on 1990-02-15. The FDIC was named receiver.

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

Deposits were transferred to CITY NATIONAL BANK OF CARRO (CARROLLTON, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2654

FDIC Certificate

23452

FDIC FIN

4152

Bank name

NORTHWAY NATIONAL BANK

Location

DALLAS, TX

Failure date

1990-02-15

FDIC resolution date

1990-02-15

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$8M

Deposits at failure

$24M

Assets at failure

$19M

Acquiring bank

CITY NATIONAL BANK OF CARRO (CARROLLTON, TX)