Bank failure · FL
Bank M (Miami, FL) — failed June 15, 1990
Bank M of Miami, Florida was closed on June 15, 1990 and resolved through a purchase and assumption. Bank of North America (FL) took over its insured deposits. At failure it held $10.7M in assets and $10.7M in deposits. The FDIC's estimated loss on the failure is $3.9M (36.0% of assets).
- Closing date
- June 15, 1990
- FDIC certificate #
- 24683
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Bank of North America
- Insurance fund
- BIF
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