FIRST NATIONAL BANK OF MIAMI Failed 1991

What happened

FIRST NATIONAL BANK OF MIAMI of MIAMI, FL was closed on 1991-11-26. The FDIC was named receiver.

Resolution: Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to READY STATE BANK (HIALEAH, FL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3242

FDIC Certificate

26274

FDIC FIN

4428

Bank name

FIRST NATIONAL BANK OF MIAMI

Location

MIAMI, FL

Failure date

1991-11-26

FDIC resolution date

1991-11-26

Charter type

National commercial bank (OCC-chartered)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$6M

Deposits at failure

$41M

Assets at failure

$40M

Acquiring bank

READY STATE BANK (HIALEAH, FL)