Bank failure · NM

Southwest National Bank (Albuquerque, NM) — failed February 21, 1991

Southwest National Bank of Albuquerque, New Mexico was closed on February 21, 1991 and resolved through a purchase and assumption. The Bank of New Mexico, Spr (NM) took over its insured deposits. At failure it held $37.2M in assets and $36.5M in deposits. The FDIC's estimated loss on the failure is $4.7M (12.6% of assets).