Bank Failure
American Bank, N.A.
Closed January 22, 1991 · Rio Rancho, NM · FDIC Cert #23221.
- Closing date
- January 22, 1991
- Headquarters
- Rio Rancho, NM
- FDIC Certificate
- 23221
- Total assets at closing
- $20.7M
- Total deposits at closing
- $23.3M
- Estimated loss to DIF
- $10.9M
- Resolution
- Failure (closed by regulators)
- Acquirer
- United New Mexico Bank at a
Context
On January 22, 1991, regulators closed American Bank, N.A., headquartered in Rio Rancho, NM. At closing, the institution held approximately $20.7M in assets and $23.3M in deposits. The FDIC arranged a resolution under which United New Mexico Bank at a acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $10.9M.
By assets at closing this is the 2310th largest of the 3,526 bank failures in the FDIC record, and the 232nd of 268 in 1991. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did American Bank, N.A. fail?
American Bank, N.A. was closed by regulators on January 22, 1991.
Who acquired American Bank, N.A.?
United New Mexico Bank at a acquired the failed bank's deposits and operations on January 22, 1991 under an FDIC-brokered resolution.
How big was American Bank, N.A. when it failed?
American Bank, N.A. had approximately $20.7M in total assets and $23.3M in deposits at the time of failure.
Other failures in 1991
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1991 | North Ridge Bank | $94.3M |
| Dec 13, 1991 | Investors FSB | $2.06B |
| Dec 13, 1991 | The Bank Mart | $578.2M |
| Dec 13, 1991 | Merchants National Bank | $153.6M |
| Dec 13, 1991 | Bank of East Hartford | $36.6M |
| Dec 13, 1991 | Federal Finance & Mortgage, LTD | $7.7M |
| Dec 12, 1991 | Granite Co-Operative Bank | $103.8M |
| Dec 6, 1991 | Saybrook Bank and Trust Company | $77.3M |
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