Bank Failure
American Bank of Commerce
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Closed March 26, 1992 · Oklahoma City, OK · FDIC Cert #20284.
- Closing date
- March 26, 1992
- Headquarters
- Oklahoma City, OK
- FDIC Certificate
- 20284
- Total assets at closing
- $13.5M
- Total deposits at closing
- $13.8M
- Estimated loss to the insurance fund
- $2.3M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Rockwell Bank National a
Context
On March 26, 1992, regulators closed American Bank of Commerce, headquartered in Oklahoma City, OK. At closing, the institution held approximately $13.5M in assets and $13.8M in deposits. The FDIC record names Rockwell Bank National a as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $2.3M.
By assets at closing this is the 2607th largest of the 3,526 bank failures in the FDIC record, and the 169th of 179 in 1992. 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 of Commerce fail?
American Bank of Commerce was closed by regulators on March 26, 1992.
Who acquired American Bank of Commerce?
The FDIC record names Rockwell Bank National a as the acquiring institution in the resolution of American Bank of Commerce.
How big was American Bank of Commerce when it failed?
American Bank of Commerce had approximately $13.5M in total assets and $13.8M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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