Bank failure · NM

Abq Bank, a FSB (Albuquerque, NM) — failed February 9, 1990

Abq Bank, a FSB of Albuquerque, New Mexico was closed on February 9, 1990 and resolved through a purchase and assumption. Bank of America Nm, NA (NM) took over its insured deposits. At failure it held $2.0B in assets and $1.5B in deposits. The FDIC's estimated loss on the failure is $434.1M (21.5% of assets).