Bank Failure
MBANK ODESSA, NATIONAL ASSOC
Closed March 28, 1989 · ODESSA, TX · FDIC Cert #16254.
- Closing date
- March 28, 1989
- Headquarters
- ODESSA, TX
- FDIC Certificate
- 16254
- Total assets at closing
- $317,623,000
- Total deposits at closing
- $298,538,000
- Estimated loss to DIF
- $7,059,000
- Resolution type
- other
- Acquirer
- BANK ONE, TEXAS, N.A. (FDIC Cert #2993)
Context
On March 28, 1989, regulators closed MBANK ODESSA, NATIONAL ASSOC, headquartered in ODESSA, TX. At closing, the institution held approximately $317,623,000 in assets and $298,538,000 in deposits. The FDIC arranged a resolution under which BANK ONE, TEXAS, N.A. acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $7,059,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1989
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1989-12-21 | COLUMBIA FSA | NASSAU BAY, TX | $77,141,000 |
| 1989-12-21 | SILVER SAVINGS ASSOC. | SILVER CITY, NM | $32,209,000 |
| 1989-12-20 | FIRST CITY NATIONAL BANK AND TRUST | NEW YORK, NY | $39,512,000 |
| 1989-12-20 | UNITED COMMUNITY BANK | WESTLAKE VILLAGE, CA | $32,288,000 |
| 1989-12-15 | FIRST AMERICAN BANK AND TRUST | NORTH PALM BEACH, FL | $1,382,924,000 |
| 1989-12-14 | YORKRIDGE-CALVERT FEDERAL SAVINGS | BALTIMORE, MD | $585,792,000 |
| 1989-12-14 | LOUISIANA SAVINGS ASSN. | LAKE CHARLES, LA | $449,258,000 |
| 1989-12-14 | FIRST ACADIANA BANK | EUNICE, LA | $46,767,000 |
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