Bank failure · NM

Moncor Bank, N.A. (Hobbs, NM) — failed August 30, 1985

Moncor Bank, N.A. of Hobbs, New Mexico was closed on August 30, 1985 and resolved through a purchase and assumption. United Bank of Lea Count (NM) took over its insured deposits. At failure it held $229.3M in assets and $220.3M in deposits. The FDIC's estimated loss on the failure is $54.0M (23.6% of assets).