Bank Failure
Fidelity National Bank
Closed July 22, 1993 · Houston, TX · FDIC Cert #24757.
- Closing date
- July 22, 1993
- Headquarters
- Houston, TX
- FDIC Certificate
- 24757
- Total assets at closing
- $52.6M
- Total deposits at closing
- $50.3M
- Estimated loss to DIF
- $5.5M
- Resolution
- Failure (closed by regulators)
- Acquirer
- Comerica Bank Texas
Context
On July 22, 1993, regulators closed Fidelity National Bank, headquartered in Houston, TX. At closing, the institution held approximately $52.6M in assets and $50.3M in deposits. The FDIC arranged a resolution under which Comerica Bank Texas acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $5.5M.
By assets at closing this is the 1608th largest of the 3,524 bank failures in the FDIC record, and the 23rd of 50 in 1993. 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 Fidelity National Bank fail?
Fidelity National Bank was closed by regulators on July 22, 1993.
Who acquired Fidelity National Bank?
Comerica Bank Texas acquired the failed bank's deposits and operations on July 22, 1993 under an FDIC-brokered resolution.
How big was Fidelity National Bank when it failed?
Fidelity National Bank had approximately $52.6M in total assets and $50.3M in deposits at the time of failure.
Other failures in 1993
| Date | Bank | Assets |
|---|---|---|
| Nov 5, 1993 | Century Thrift and Loan | $31.9M |
| Oct 29, 1993 | The Bank of San Diego | $294.3M |
| Oct 21, 1993 | Mid City Bank, N.A. | $105.7M |
| Oct 15, 1993 | Brentwood Thrift and Loan Association | $12.9M |
| Oct 14, 1993 | Plaza Bank, N.A. of New Braunfels | $54.6M |
| Sep 24, 1993 | Westside Bank, FSB | $81.7M |
| Sep 24, 1993 | Western United National Bank | $23.7M |
| Sep 17, 1993 | Regent Thrift and Loan Association | $35.8M |
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