Bank failure · TX
Steeplechase National Bank (Houston, TX) — failed September 17, 1987
Steeplechase National Bank of Houston, Texas was closed on September 17, 1987 and resolved through a purchase and assumption. Cypress National Bank (TX) took over its insured deposits. At failure it held $15.9M in assets and $14.2M in deposits. The FDIC's estimated loss on the failure is $3.7M (23.0% of assets).
- Closing date
- September 17, 1987
- FDIC certificate #
- 25735
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Cypress National Bank
- Insurance fund
- FDIC
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