PEOPLES NB OF COMMERCE Failed 1999
What happened
PEOPLES NB OF COMMERCE of MIAMI, FL was closed on 1999-09-10. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BOSTON BANK OF COMMERCE (BOSTON, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3521
- FDIC Certificate
- 18147
- FDIC FIN
- 4638
- Bank name
- PEOPLES NB OF COMMERCE
- Location
- MIAMI, FL
- Failure date
- 1999-09-10
- FDIC resolution date
- 1999-09-10
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $3M
- Deposits at failure
- $36M
- Assets at failure
- $37M
- Acquiring bank
- BOSTON BANK OF COMMERCE (BOSTON, MA)
Other banks BOSTON BANK OF COMMERCE acquired in FDIC resolutions