FIRST NATIONAL BANK, BEDFORD Failed 1991

What happened

FIRST NATIONAL BANK, BEDFORD of BEDFORD, TX was closed on 1991-10-24. The FDIC was named receiver.

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

Deposits were transferred to FIRST INTERNATIONAL BANK (BEDFORD, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3223

FDIC Certificate

25837

FDIC FIN

4416

Bank name

FIRST NATIONAL BANK, BEDFORD

Location

BEDFORD, TX

Failure date

1991-10-24

FDIC resolution date

1991-10-24

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$2M

Deposits at failure

$23M

Assets at failure

$23M

Acquiring bank

FIRST INTERNATIONAL BANK (BEDFORD, TX)