Bank Failure
Merchants National Bank
BankRegReports is independent of Merchants National Bank and never asks for online banking logins or passwords.
Closed February 7, 1992 · Fort Myers, FL · FDIC Cert #27213.
- Closing date
- February 7, 1992
- Headquarters
- Fort Myers, FL
- FDIC Certificate
- 27213
- Total assets at closing
- $35.1M
- Total deposits at closing
- $35.3M
- Estimated loss to the insurance fund
- $5.2M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Founders National Trust
Context
On February 7, 1992, regulators closed Merchants National Bank, headquartered in Fort Myers, FL. At closing, the institution held approximately $35.1M in assets and $35.3M in deposits. The FDIC record names Founders National Trust as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $5.2M.
By assets at closing this is the 1911th largest of the 3,526 bank failures in the FDIC record, and the 137th 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 Merchants National Bank fail?
Merchants National Bank was closed by regulators on February 7, 1992.
Who acquired Merchants National Bank?
The FDIC record names Founders National Trust as the acquiring institution in the resolution of Merchants National Bank.
How big was Merchants National Bank when it failed?
Merchants National Bank had approximately $35.1M in total assets and $35.3M 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 |
Explore: all failures · FL bank events · 1992 events · events hub