FIRST CITY, TEXAS - CORPUS CHRIS Failed 1992

What happened

FIRST CITY, TEXAS - CORPUS CHRIS of CORPUS CHRISTI, TX was closed on 1992-10-30. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to MERCANTILE BANK, NA (BROWNSVILLE, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3404

FDIC Certificate

21190

FDIC FIN

4528

Bank name

FIRST CITY, TEXAS - CORPUS CHRIS

Location

CORPUS CHRISTI, TX

Failure date

1992-10-30

FDIC resolution date

1993-02-13

Charter type

State commercial bank, Federal Reserve member

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$0M

Deposits at failure

$383M

Assets at failure

$463M

Acquiring bank

MERCANTILE BANK, NA (BROWNSVILLE, TX)