Bank failure · NM
American Fs & LA (Albuquerque, NM) — failed March 9, 1989
American Fs & LA of Albuquerque, New Mexico was closed on March 9, 1989 and resolved through a purchase and assumption. First Nb in Albuquerque (NM) took over its insured deposits. At failure it held $188.9M in assets and $151.1M in deposits. The FDIC's estimated loss on the failure is $52.9M (28.0% of assets).
- Closing date
- March 9, 1989
- FDIC certificate #
- 31290
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Nb in Albuquerque
- Insurance fund
- RTC
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