NEW ATLANTIC BANK, NA Failed 1993

NORFOLK, VA · National commercial bank (OCC-chartered) · view on FDIC BankFind ↗

What happened

NEW ATLANTIC BANK, NA of NORFOLK, VA was closed on 1993-08-12. The FDIC was named receiver.

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

Deposits were transferred to BANK OF HAMPTON ROADS (CHESAPEAKE, VA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3470
FDIC Certificate
32728
FDIC FIN
4594
Bank name
NEW ATLANTIC BANK, NA
Location
NORFOLK, VA
Failure date
1993-08-12
FDIC resolution date
1993-08-12
Charter type
National commercial bank (OCC-chartered)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$1M
Deposits at failure
$14M
Assets at failure
$15M
Acquiring bank
BANK OF HAMPTON ROADS (CHESAPEAKE, VA)