BANK OF ODESSA Failed 1990

What happened

BANK OF ODESSA of ODESSA, TX was closed on 1990-07-26. The FDIC was named receiver.

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

Deposits were transferred to WESTERN NATIONAL BANK (ODESSA, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2855

FDIC Certificate

24410

FDIC FIN

4250

Bank name

BANK OF ODESSA

Location

ODESSA, TX

Failure date

1990-07-26

FDIC resolution date

1990-07-26

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

$15M

Assets at failure

$14M

Acquiring bank

WESTERN NATIONAL BANK (ODESSA, TX)