Bank failure · DC

Madison National Bank (Washington, DC) — failed May 10, 1991

Madison National Bank of Washington, District of Columbia was closed on May 10, 1991 and resolved through a purchase and assumption. Signet Bank, National Assoc (DC) took over its insured deposits. At failure it held $473.8M in assets and $404.2M in deposits. The FDIC's estimated loss on the failure is $77.8M (16.4% of assets).