# MADISON NATIONAL BANK OF VIRGINIA

> **Failed bank** · MCLEAN, VA · failed 1991-05-10 · National commercial bank (OCC-chartered) · FDIC cost $18M

## What happened

MADISON NATIONAL BANK OF VIRGINIA of MCLEAN, VA 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 - VIRGINIA** (RICHMOND, VA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3093
- **FDIC Certificate:** 20210
- **FDIC FIN:** 4353
- **Bank name:** MADISON NATIONAL BANK OF VIRGINIA
- **Location:** MCLEAN, VA
- **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:** $18M
- **Deposits at failure:** $159M
- **Assets at failure:** $174M
- **Acquiring bank:** SIGNET BANK - VIRGINIA (RICHMOND, VA)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, MADISON NATIONAL BANK OF VIRGINIA (FDIC ID 3093), failed 1991-05-10. Retrieved via AI Analytics 2026-05-19 from https://api.ai-analytics.org/failed-bank/3093.

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