Bank Failure
The Metro BK of Huntington, Inc.
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Closed September 12, 1980 · Huntington, WV · FDIC Cert #19611.
- Closing date
- September 12, 1980
- Headquarters
- Huntington, WV
- FDIC Certificate
- 19611
- Total assets at closing
- $27.0M
- Total deposits at closing
- $23.9M
- Estimated loss to the insurance fund
- $2.3M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Heritage National Bank
Context
On September 12, 1980, regulators closed The Metro BK of Huntington, Inc., headquartered in Huntington, WV. At closing, the institution held approximately $27.0M in assets and $23.9M in deposits. The FDIC record names Heritage National Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $2.3M.
By assets at closing this is the 2120th largest of the 3,526 bank failures in the FDIC record, and the 4th of 10 in 1980. 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 Metro BK of Huntington, Inc. fail?
The Metro BK of Huntington, Inc. was closed by regulators on September 12, 1980.
Who acquired The Metro BK of Huntington, Inc.?
The FDIC record names Heritage National Bank as the acquiring institution in the resolution of The Metro BK of Huntington, Inc.
How big was The Metro BK of Huntington, Inc. when it failed?
The Metro BK of Huntington, Inc. had approximately $27.0M in total assets and $23.9M in deposits at the time of failure.
Other failures in 1980
| Date | Bank | Assets |
|---|---|---|
| Dec 31, 1980 | East Gadsden Bank | $44.0M |
| Nov 21, 1980 | Citizens State BK of Galena | $10.3M |
| Oct 11, 1980 | The Rochelle BK & TR Co. | $8.4M |
| Aug 8, 1980 | The Mission State BK & TR Co. | $86.4M |
| Jun 28, 1980 | City & County BK of Campbell CTY | $39.8M |
| Jun 4, 1980 | The Citizens State Bank | $2.0M |
| Feb 16, 1980 | Mohawk BK & TR Co. | $5.9M |
| Feb 12, 1980 | First National BK of Carrington | $12.4M |
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