METRO BANK Failed 1983

MIDLAND, TX · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

METRO BANK of MIDLAND, TX was closed on 1983-07-29. The FDIC was named receiver.

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

Deposits were transferred to MID-CITIES NATIONAL BANK (MIDLAND, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
803
FDIC Certificate
22765
FDIC FIN
2356
Bank name
METRO BANK
Location
MIDLAND, TX
Failure date
1983-07-29
FDIC resolution date
1983-07-29
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.)
$13M
Deposits at failure
$31M
Assets at failure
$34M
Acquiring bank
MID-CITIES NATIONAL BANK (MIDLAND, TX)