Bank failure · VA

Madison National Bank of Virginia (McLean, VA) — failed May 10, 1991

Madison National Bank of Virginia of McLean, Virginia was closed on May 10, 1991 and resolved through a purchase and assumption. Signet Bank - Virginia (VA) took over its insured deposits. At failure it held $174.2M in assets and $159.4M in deposits. The FDIC's estimated loss on the failure is $18.2M (10.5% of assets).