UNITED MERCANTILE B & T CO, N.A. Failed 1992

What happened

UNITED MERCANTILE B & T CO, N.A. of PASADENA, CA was closed on 1992-03-20. The FDIC was named receiver.

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

Deposits were transferred to ONECENTRAL BANK (GLENDALE, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3295

FDIC Certificate

23855

FDIC FIN

4464

Bank name

UNITED MERCANTILE B & T CO, N.A.

Location

PASADENA, CA

Failure date

1992-03-20

FDIC resolution date

1992-03-20

Charter type

National commercial bank (OCC-chartered)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$12M

Deposits at failure

$38M

Assets at failure

$36M

Acquiring bank

ONECENTRAL BANK (GLENDALE, CA)