# MADISON NATIONAL BANK

> **Failed bank** · WASHINGTON, DC · failed 1991-05-10 · National commercial bank (OCC-chartered) · FDIC cost $78M

## What happened

MADISON NATIONAL BANK of WASHINGTON, DC was closed by the OCC on **1991-05-10**. The FDIC was named receiver.

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

Deposits were transferred to **SIGNET BANK, NATIONAL ASSOC** (WASHINGTON, DC). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3092
- **FDIC Certificate:** 18960
- **FDIC FIN:** 4352
- **Bank name:** MADISON NATIONAL BANK
- **Location:** WASHINGTON, DC
- **Failure date:** 1991-05-10
- **FDIC resolution date:** 1991-05-10
- **Charter type:** National commercial bank (OCC-chartered)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $78M
- **Deposits at failure:** $404M
- **Assets at failure:** $474M
- **Acquiring bank:** SIGNET BANK, NATIONAL ASSOC (WASHINGTON, DC)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=MADISON%20NATIONAL%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, MADISON NATIONAL BANK (FDIC ID 3092), failed 1991-05-10. Retrieved via AI Analytics 2026-05-19 from https://api.ai-analytics.org/failed-bank/3092.

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