Bank failure · DC
The National Bank of Washington (Washington, DC) — failed August 10, 1990
The National Bank of Washington of Washington, District of Columbia was closed on August 10, 1990 and resolved through a purchase and assumption. The Riggs National Bank of (DC) took over its insured deposits. At failure it held $1.7B in assets and $1.3B in deposits. The FDIC's estimated loss on the failure is $224.3M (13.6% of assets).
- Closing date
- August 10, 1990
- FDIC certificate #
- 2092
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- The Riggs National Bank of
- Insurance fund
- BIF
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