Bank failure · TX
Mbank Sherman, National Assoc (Sherman, TX) — failed March 28, 1989
Mbank Sherman, National Assoc of Sherman, Texas was closed on March 28, 1989 and resolved through a purchase and assumption. Bank One, Texas, N.A. (TX) took over its insured deposits. At failure it held $282.0M in assets and $271.4M in deposits. The FDIC's estimated loss on the failure is $3.4M (1.2% of assets).
- Closing date
- March 28, 1989
- FDIC certificate #
- 5528
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Bank One, Texas, N.A.
- Insurance fund
- FDIC
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