Bank failure · VA
New Atlantic Bank, NA (Norfolk, VA) — failed August 12, 1993
New Atlantic Bank, NA of Norfolk, Virginia was closed on August 12, 1993 and resolved through a purchase and assumption. Bank of Hampton Roads (VA) took over its insured deposits. At failure it held $15.1M in assets and $14.4M in deposits. The FDIC's estimated loss on the failure is $792K (5.3% of assets).
- Closing date
- August 12, 1993
- FDIC certificate #
- 32728
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Bank of Hampton Roads
- Insurance fund
- BIF
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