Bank Failure
Zia New Mexico Bank
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Closed April 23, 1999 · Tucumcari, NM · FDIC Cert #13300.
- Closing date
- April 23, 1999
- Headquarters
- Tucumcari, NM
- FDIC Certificate
- 13300
- Total assets at closing
- $17.3M
- Total deposits at closing
- $16.7M
- Estimated loss to the insurance fund
- $2.2M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First National Bank of New
Context
On April 23, 1999, regulators closed Zia New Mexico Bank, headquartered in Tucumcari, NM. At closing, the institution held approximately $17.3M in assets and $16.7M in deposits. The FDIC record names First National Bank of New as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $2.2M.
By assets at closing this is the 2452nd largest of the 3,526 bank failures in the FDIC record, and the 7th of 8 in 1999. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Zia New Mexico Bank fail?
Zia New Mexico Bank was closed by regulators on April 23, 1999.
Who acquired Zia New Mexico Bank?
The FDIC record names First National Bank of New as the acquiring institution in the resolution of Zia New Mexico Bank.
How big was Zia New Mexico Bank when it failed?
Zia New Mexico Bank had approximately $17.3M in total assets and $16.7M in deposits at the time of failure.
Other failures in 1999
| Date | Bank | Assets |
|---|---|---|
| Dec 10, 1999 | Golden City Commercial Bank | $87.2M |
| Nov 22, 1999 | Pacific Thrift and Loan Co | $127.3M |
| Sep 10, 1999 | Peoples NB of Commerce | $36.8M |
| Sep 1, 1999 | First NB of Keystone | $1.12B |
| Jul 9, 1999 | East Texas NB of Marshall | $121.6M |
| Jul 9, 1999 | Oceanmark Bank, a FSB | $69.0M |
| Mar 26, 1999 | Victory State Bank | $13.2M |
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