FIRST NATIONAL BANK OF CORPUS CHRISTI Failed 1990

What happened

FIRST NATIONAL BANK OF CORPUS CHRISTI of CORPUS CHRISTI, TX was closed on 1990-08-09. The FDIC was named receiver.

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

Deposits were transferred to FIRST CITY, TEXAS-CORPUS CH (CORPUS CHRISTI, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2868

FDIC Certificate

18623

FDIC FIN

4256

Bank name

FIRST NATIONAL BANK OF CORPUS CHRISTI

Location

CORPUS CHRISTI, TX

Failure date

1990-08-09

FDIC resolution date

1990-08-09

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$20M

Deposits at failure

$117M

Assets at failure

$117M

Acquiring bank

FIRST CITY, TEXAS-CORPUS CH (CORPUS CHRISTI, TX)