Bank failure · NM

The Bank of Ruidoso (Ruidoso, NM) — failed February 23, 1990

The Bank of Ruidoso of Ruidoso, New Mexico was closed on February 23, 1990 and resolved through a purchase and assumption. United New Mexico Bank at a (NM) took over its insured deposits. At failure it held $27.8M in assets and $26.5M in deposits. The FDIC's estimated loss on the failure is $12.7M (45.5% of assets).