SECURITY NATIONAL BANK OF ELGIN Failed 1990
What happened
SECURITY NATIONAL BANK OF ELGIN of ELGIN, TX was closed on 1990-04-19. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to ELGIN BANK OF TEXAS (ELGIN, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2731
- FDIC Certificate
- 24915
- FDIC FIN
- 4184
- Bank name
- SECURITY NATIONAL BANK OF ELGIN
- Location
- ELGIN, TX
- Failure date
- 1990-04-19
- FDIC resolution date
- 1990-04-19
- 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
- $11M
- Assets at failure
- $11M
- Acquiring bank
- ELGIN BANK OF TEXAS (ELGIN, TX)