Bank failure · TX
Metropolitan National Bank (McAllen, TX) — failed October 19, 1990
Metropolitan National Bank of McAllen, Texas was closed on October 19, 1990 and resolved through a purchase and assumption. Raymondville State Bank (TX) took over its insured deposits. At failure it held $19.9M in assets and $20.1M in deposits. The FDIC's estimated loss on the failure is $2.9M (14.5% of assets).
- Closing date
- October 19, 1990
- FDIC certificate #
- 20863
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Raymondville State Bank
- Insurance fund
- BIF
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