SOUTHWEST NATIONAL BANK Failed 1990
What happened
SOUTHWEST NATIONAL BANK of AUSTIN, TX was closed on 1990-06-28. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to TEXAS BANK (ODESSA, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2827
- FDIC Certificate
- 23336
- FDIC FIN
- 4240
- Bank name
- SOUTHWEST NATIONAL BANK
- Location
- AUSTIN, TX
- Failure date
- 1990-06-28
- FDIC resolution date
- 1990-06-28
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $7M
- Deposits at failure
- $34M
- Assets at failure
- $34M
- Acquiring bank
- TEXAS BANK (ODESSA, TX)
Other banks TEXAS BANK acquired in FDIC resolutions