Bank Failure
Banco Nacional, N.A.
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Closed January 24, 1992 · San Juan, PR · FDIC Cert #26468.
- Closing date
- January 24, 1992
- Headquarters
- San Juan, PR
- FDIC Certificate
- 26468
- Total assets at closing
- $52.1M
- Total deposits at closing
- $48.9M
- Estimated loss to the insurance fund
- $8.0M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Eurobank&trust Co
Context
On January 24, 1992, regulators closed Banco Nacional, N.A., headquartered in San Juan, PR. At closing, the institution held approximately $52.1M in assets and $48.9M in deposits. The FDIC record names Eurobank&trust Co as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $8.0M.
By assets at closing this is the 1616th largest of the 3,526 bank failures in the FDIC record, and the 115th 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 Banco Nacional, N.A. fail?
Banco Nacional, N.A. was closed by regulators on January 24, 1992.
Who acquired Banco Nacional, N.A.?
The FDIC record names Eurobank&trust Co as the acquiring institution in the resolution of Banco Nacional, N.A.
How big was Banco Nacional, N.A. when it failed?
Banco Nacional, N.A. had approximately $52.1M in total assets and $48.9M 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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