COMMONWEALTH NATIONAL BANK Failed 1990

What happened

COMMONWEALTH NATIONAL BANK of DALLAS, TX was closed on 1990-05-10. The FDIC was named receiver.

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

Deposits were transferred to COMERICA BANK-TEXAS (DALLAS, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2757

FDIC Certificate

19026

FDIC FIN

4196

Bank name

COMMONWEALTH NATIONAL BANK

Location

DALLAS, TX

Failure date

1990-05-10

FDIC resolution date

1990-05-10

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

$46M

Assets at failure

$44M

Acquiring bank

COMERICA BANK-TEXAS (DALLAS, TX)

Other banks COMERICA BANK-TEXAS acquired in FDIC resolutions

• METROPOLITAN NATIONAL BANK (FARMERS BRANCH, TX) — failed 1991-01-24
• CITY NATIONAL BANK OF IRVING (IRVING, TX) — failed 1990-09-20
• CHISHOLM NATIONAL BANK (PLANO, TX) — failed 1990-08-30
• MIDWAY NATIONAL BANK (DALLAS, TX) — failed 1990-05-24
• FORESTWOOD NATIONAL BANK OF DALLAS (DALLAS, TX) — failed 1989-07-27