Bank failure · FL

Merchants National Bank (Fort Myers, FL) — failed February 7, 1992

Merchants National Bank of Fort Myers, Florida was closed on February 7, 1992 and resolved through a insured deposit transfer. Founders National Trust (FL) took over its insured deposits. At failure it held $35.1M in assets and $35.3M in deposits. The FDIC's estimated loss on the failure is $5.2M (14.8% of assets).