Bank failure · TX
Memorial Bank, National Association (Houston, TX) — failed May 24, 1990
Memorial Bank, National Association of Houston, Texas was closed on May 24, 1990 and resolved through a purchase and assumption. Compass Bank Houston (TX) took over its insured deposits. At failure it held $75.9M in assets and $73.3M in deposits. The FDIC's estimated loss on the failure is $34.8M (45.8% of assets).
- Closing date
- May 24, 1990
- FDIC certificate #
- 24896
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Compass Bank Houston
- Insurance fund
- BIF
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