Bank failure · NM

American Bank, National Association (Rio Rancho, NM) — failed January 22, 1991

American Bank, National Association of Rio Rancho, New Mexico was closed on January 22, 1991 and resolved through a insured deposit transfer. United New Mexico Bank at a (NM) took over its insured deposits. At failure it held $20.7M in assets and $23.3M in deposits. The FDIC's estimated loss on the failure is $10.9M (52.8% of assets).