FDIC Open-Bank Assistance
Metropolitan National Bank
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Assistance provided January 31, 1989 · San Antonio, TX · FDIC Cert #24562.
- Assistance date
- January 31, 1989
- Headquarters
- San Antonio, TX
- FDIC Certificate
- 24562
- Total assets at the time
- $4.4M
- Total deposits at the time
- $6.4M
- Estimated loss to the insurance fund
- $2.3M
- Insurance fund
- FDIC insurance fund
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Texas Bank. N.A.
Context
On January 31, 1989, the FDIC provided open-bank assistance to Metropolitan National Bank, headquartered in San Antonio, TX. The institution continued operating. At the time it held approximately $4.4M in assets and $6.4M in deposits. The FDIC record names Texas Bank. N.A. as the acquiring institution in the assisted transaction. The estimated cost to the FDIC insurance fund was approximately $2.3M.
The FDIC record for 1989 holds 530 failures and 4 open-bank assistance transactions. 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 the FDIC provide assistance to Metropolitan National Bank?
Metropolitan National Bank received FDIC open-bank assistance on January 31, 1989; it did not fail.
How big was Metropolitan National Bank at the time of assistance?
Metropolitan National Bank had approximately $4.4M in total assets and $6.4M in deposits at the time of assistance.
Bank failures in 1989
| Date | Bank | Assets |
|---|---|---|
| Dec 21, 1989 | Columbia FSA | $77.1M |
| Dec 21, 1989 | Silver Savings Assoc. | $32.2M |
| Dec 20, 1989 | First City National Bank and Trust | $39.5M |
| Dec 20, 1989 | United Community Bank | $32.3M |
| Dec 15, 1989 | First American Bank and Trust | $1.38B |
| Dec 14, 1989 | Yorkridge-Calvert Federal Savings | $585.8M |
| Dec 14, 1989 | Louisiana Savings Assn. | $449.3M |
| Dec 14, 1989 | First Acadiana Bank | $46.8M |
Explore: all failures · TX bank events · 1989 events · events hub