Bank failure · PR
Union Trust Company (San Juan, PR) — failed December 9, 1983
Union Trust Company of San Juan, Puerto Rico was closed on December 9, 1983 and resolved through a purchase and assumption. Banco Popular De Puerto (PR) took over its insured deposits. At failure it held $30.6M in assets and $25.7M in deposits. The FDIC's estimated loss on the failure is $9.2M (30.2% of assets).
- Closing date
- December 9, 1983
- FDIC certificate #
- 23674
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Banco Popular De Puerto
- Insurance fund
- FDIC
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