MERCHANTS & MECHANICS FSB Failed 1991
What happened
MERCHANTS & MECHANICS FSB of SPRINGFIELD, OH was closed on 1991-08-23. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BANC ONE FSB (COLUMBUS, OH). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3169
- FDIC Certificate
- 27693
- FDIC FIN
- 7415
- Bank name
- MERCHANTS & MECHANICS FSB
- Location
- SPRINGFIELD, OH
- Failure date
- 1991-08-23
- FDIC resolution date
- 1991-08-23
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $23M
- Deposits at failure
- $206M
- Assets at failure
- $210M
- Acquiring bank
- BANC ONE FSB (COLUMBUS, OH)
Other banks BANC ONE FSB acquired in FDIC resolutions