Bank failure · TX
Summit Bank (San Antonio, TX) — failed August 24, 1989
Summit Bank of San Antonio, Texas was closed on August 24, 1989 and resolved through a insured deposit transfer. The Frost National Bank of (TX) took over its insured deposits. At failure it held $19.2M in assets and $18.5M in deposits. The FDIC's estimated loss on the failure is $3.9M (20.1% of assets).
- Closing date
- August 24, 1989
- FDIC certificate #
- 21256
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- The Frost National Bank of
- Insurance fund
- BIF
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