Bank failure · NM

New Mexico National Bank (Albuquerque, NM) — failed July 17, 1986

New Mexico National Bank of Albuquerque, New Mexico was closed on July 17, 1986 and resolved through a purchase and assumption. First Intrst Bk Albuquer (NM) took over its insured deposits. At failure it held $159.3M in assets and $149.2M in deposits. The FDIC's estimated loss on the failure is $34.3M (21.5% of assets).