BANK M Failed 1990
What happened
BANK M of MIAMI, FL was closed on 1990-06-15. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BANK OF NORTH AMERICA (MIAMI, FL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2814
- FDIC Certificate
- 24683
- FDIC FIN
- 4231
- Bank name
- BANK M
- Location
- MIAMI, FL
- Failure date
- 1990-06-15
- FDIC resolution date
- 1990-06-15
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $4M
- Deposits at failure
- $11M
- Assets at failure
- $11M
- Acquiring bank
- BANK OF NORTH AMERICA (MIAMI, FL)
Other banks BANK OF NORTH AMERICA acquired in FDIC resolutions