Bank Failure
American Bank of Commerce
Closed May 6, 1987 · Denver, CO · FDIC Cert #26207.
- Closing date
- May 6, 1987
- Headquarters
- Denver, CO
- FDIC Certificate
- 26207
- Total assets at closing
- $25.5M
- Total deposits at closing
- $24.6M
- Estimated loss to DIF
- $10.9M
- Resolution
- Failure (closed by regulators)
- Acquirer
- Professional Bank of CO
Context
On May 6, 1987, regulators closed American Bank of Commerce, headquartered in Denver, CO. At closing, the institution held approximately $25.5M in assets and $24.6M in deposits. The FDIC arranged a resolution under which Professional Bank of CO 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 2167th largest of the 3,524 bank failures in the FDIC record, and the 90th of 217 in 1987. 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 May 6, 1987.
Who acquired American Bank of Commerce?
Professional Bank of CO acquired the failed bank's deposits and operations on May 6, 1987 under an FDIC-brokered resolution.
How big was American Bank of Commerce when it failed?
American Bank of Commerce had approximately $25.5M in total assets and $24.6M in deposits at the time of failure.
Other failures in 1987
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1987 | First State Bank at Shoshoni | $4.6M |
| Dec 17, 1987 | Usbank | $86.0M |
| Dec 17, 1987 | Bank of Mabank | $43.8M |
| Dec 17, 1987 | American Bank of Commerce | $35.5M |
| Dec 11, 1987 | First Interstate Bank of Alaska | $367.7M |
| Dec 11, 1987 | Lewis and Clark State Bank | $20.3M |
| Dec 10, 1987 | Heritage National Bank | $53.2M |
| Dec 10, 1987 | Bancfirst-Austin, N.A. | $25.3M |
Explore: all failures · CO bank events · 1987 events · events hub