FIRST NATIONAL BANK OF GARLAND Failed 1990
What happened
FIRST NATIONAL BANK OF GARLAND of GARLAND, TX was closed on 1990-03-29. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to STATE BANK OF TEXAS (DALLAS, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2716
- FDIC Certificate
- 24014
- FDIC FIN
- 4173
- Bank name
- FIRST NATIONAL BANK OF GARLAND
- Location
- GARLAND, TX
- Failure date
- 1990-03-29
- FDIC resolution date
- 1990-03-29
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $2M
- Deposits at failure
- $10M
- Assets at failure
- $9M
- Acquiring bank
- STATE BANK OF TEXAS (DALLAS, TX)
Other banks STATE BANK OF TEXAS acquired in FDIC resolutions