INDEPENDENCE BANK Failed 1992

What happened

INDEPENDENCE BANK of PLANO, TX was closed on 1992-03-19. The FDIC was named receiver.

Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors

Deposits were transferred to FIRST WESTERN NATIONAL B (CARROLLTON, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3293

FDIC Certificate

24793

FDIC FIN

4462

Bank name

INDEPENDENCE BANK

Location

PLANO, TX

Failure date

1992-03-19

FDIC resolution date

1992-03-19

Charter type

State commercial bank, Federal Reserve member

Resolution type

Payout / Insured deposits — FDIC paid insured deposits directly to depositors

FDIC DIF cost (est.)

$3M

Deposits at failure

$21M

Assets at failure

$22M

Acquiring bank

FIRST WESTERN NATIONAL B (CARROLLTON, TX)