Bank failure · TX
Commerce Sa (San Antonio, TX) — failed February 28, 1989
Commerce Sa of San Antonio, Texas was closed on February 28, 1989 and resolved through a purchase and assumption. Bank of America Tx, NA (TX) took over its insured deposits. At failure it held $807.3M in assets and $801.3M in deposits. The FDIC's estimated loss on the failure is $595.2M (73.7% of assets).
- Closing date
- February 28, 1989
- FDIC certificate #
- 31040
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Bank of America Tx, NA
- Insurance fund
- RTC
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