UNION BANK Failed 1991
What happened
UNION BANK of SAN ANTONIO, TX was closed on 1991-10-31. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CHANNELVIEW BANK (CHANNELVIEW, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3229
- FDIC Certificate
- 15514
- FDIC FIN
- 4421
- Bank name
- UNION BANK
- Location
- SAN ANTONIO, TX
- Failure date
- 1991-10-31
- FDIC resolution date
- 1991-10-31
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $9M
- Deposits at failure
- $85M
- Assets at failure
- $85M
- Acquiring bank
- CHANNELVIEW BANK (CHANNELVIEW, TX)
Other banks CHANNELVIEW BANK acquired in FDIC resolutions