Skip to main content

Bank Failure

Metropolitan National Bank

BankRegReports is independent of Metropolitan National Bank and never asks for online banking logins or passwords.

Closed January 24, 1991 · Farmers Branch, TX · FDIC Cert #23461.

Closing date
January 24, 1991
Headquarters
Farmers Branch, TX
FDIC Certificate
23461
Total assets at closing
$97.3M
Total deposits at closing
$98.5M
Estimated loss to the insurance fund
$15.4M
Insurance fund
Bank Insurance Fund (BIF)
Resolution
Failure (closed by regulators)
Acquirer
Comerica Bank-Texas

Context

On January 24, 1991, regulators closed Metropolitan National Bank, headquartered in Farmers Branch, TX. At closing, the institution held approximately $97.3M in assets and $98.5M in deposits. The FDIC record names Comerica Bank-Texas as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $15.4M.

By assets at closing this is the 1219th largest of the 3,526 bank failures in the FDIC record, and the 128th of 268 in 1991. 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 Metropolitan National Bank fail?

Metropolitan National Bank was closed by regulators on January 24, 1991.

Who acquired Metropolitan National Bank?

The FDIC record names Comerica Bank-Texas as the acquiring institution in the resolution of Metropolitan National Bank.

How big was Metropolitan National Bank when it failed?

Metropolitan National Bank had approximately $97.3M in total assets and $98.5M in deposits at the time of failure.

Other failures in 1991

Date Bank HQ Assets
Dec 20, 1991 North Ridge Bank Oakland Park, FL $94.3M
Dec 13, 1991 Investors FSB Richmond, VA $2.06B
Dec 13, 1991 The Bank Mart Bridgeport, CT $578.2M
Dec 13, 1991 Merchants National Bank Leominster, MA $153.6M
Dec 13, 1991 Bank of East Hartford East Hartford, CT $36.6M
Dec 13, 1991 Federal Finance & Mortgage, LTD Honolulu, HI $7.7M
Dec 12, 1991 Granite Co-Operative Bank Quincy, MA $103.8M
Dec 6, 1991 Saybrook Bank and Trust Company Old Saybrook, CT $77.3M