PAN AMERICAN NATIONAL BANK Failed 1983
What happened
PAN AMERICAN NATIONAL BANK of UNION CITY, NJ was closed on 1983-03-18. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to HUDSON UNITED BANK (UNION CITY, NJ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 763
- FDIC Certificate
- 20461
- FDIC FIN
- 2339
- Bank name
- PAN AMERICAN NATIONAL BANK
- Location
- UNION CITY, NJ
- Failure date
- 1983-03-18
- FDIC resolution date
- 1983-03-18
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $5M
- Deposits at failure
- $36M
- Assets at failure
- $37M
- Acquiring bank
- HUDSON UNITED BANK (UNION CITY, NJ)
Other banks HUDSON UNITED BANK acquired in FDIC resolutions