Bank Failure
Montgomery County Bank, N.A.
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Closed January 29, 1987 · The Woodlands, TX · FDIC Cert #20694.
- Closing date
- January 29, 1987
- Headquarters
- The Woodlands, TX
- FDIC Certificate
- 20694
- Total assets at closing
- $48.5M
- Total deposits at closing
- $47.6M
- Estimated loss to the insurance fund
- $13.9M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Texas Commerce Bank N.A.
Context
On January 29, 1987, regulators closed Montgomery County Bank, N.A., headquartered in The Woodlands, TX. At closing, the institution held approximately $48.5M in assets and $47.6M in deposits. The FDIC record names Texas Commerce Bank N.A. as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $13.9M.
By assets at closing this is the 1683rd largest of the 3,526 bank failures in the FDIC record, and the 57th of 217 in 1987. 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 Montgomery County Bank, N.A. fail?
Montgomery County Bank, N.A. was closed by regulators on January 29, 1987.
Who acquired Montgomery County Bank, N.A.?
The FDIC record names Texas Commerce Bank N.A. as the acquiring institution in the resolution of Montgomery County Bank, N.A.
How big was Montgomery County Bank, N.A. when it failed?
Montgomery County Bank, N.A. had approximately $48.5M in total assets and $47.6M in deposits at the time of failure.
Other failures in 1987
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1987 | First State Bank at Shoshoni | $4.6M |
| Dec 17, 1987 | Usbank | $86.0M |
| Dec 17, 1987 | Bank of Mabank | $43.8M |
| Dec 17, 1987 | American Bank of Commerce | $35.5M |
| Dec 11, 1987 | First Interstate Bank of Alaska | $367.7M |
| Dec 11, 1987 | Lewis and Clark State Bank | $20.3M |
| Dec 10, 1987 | Heritage National Bank | $53.2M |
| Dec 10, 1987 | Bancfirst-Austin, N.A. | $25.3M |
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