UNION TRUST COMPANY Failed 1983
What happened
UNION TRUST COMPANY of SAN JUAN, PR was closed on 1983-12-09. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BANCO POPULAR DE PUERTO (SAN JUAN, PR). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 838
- FDIC Certificate
- 23674
- FDIC FIN
- 2366
- Bank name
- UNION TRUST COMPANY
- Location
- SAN JUAN, PR
- Failure date
- 1983-12-09
- FDIC resolution date
- 1983-12-09
- 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.)
- $9M
- Deposits at failure
- $26M
- Assets at failure
- $31M
- Acquiring bank
- BANCO POPULAR DE PUERTO (SAN JUAN, PR)
Other banks BANCO POPULAR DE PUERTO acquired in FDIC resolutions