MERCHANTS NATIONAL BANK Failed 1992

What happened

MERCHANTS NATIONAL BANK of FORT MYERS, FL was closed on 1992-02-07. The FDIC was named receiver.

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

Deposits were transferred to FOUNDERS NATIONAL TRUST (FORT MYERS, FL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3271

FDIC Certificate

27213

FDIC FIN

4449

Bank name

MERCHANTS NATIONAL BANK

Location

FORT MYERS, FL

Failure date

1992-02-07

FDIC resolution date

1992-02-07

Charter type

National commercial bank (OCC-chartered)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$5M

Deposits at failure

$35M

Assets at failure

$35M

Acquiring bank

FOUNDERS NATIONAL TRUST (FORT MYERS, FL)