AMERICAN BANK AND TRUST Failed 1993

SAN JOSE, CA · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

AMERICAN BANK AND TRUST of SAN JOSE, CA was closed on 1993-06-18. The FDIC was named receiver.

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

Deposits were transferred to BANK OF SANTA CLARA (SANTA CLARA, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3459
FDIC Certificate
21560
FDIC FIN
4582
Bank name
AMERICAN BANK AND TRUST
Location
SAN JOSE, CA
Failure date
1993-06-18
FDIC resolution date
1993-06-18
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$6M
Deposits at failure
$35M
Assets at failure
$36M
Acquiring bank
BANK OF SANTA CLARA (SANTA CLARA, CA)