Data / Bank failures / 1991 / Madison National Bank
Madison National Bank, Washington, DC: failed May 10, 1991
Madison National Bank in Washington, District of Columbia, failed on May 10, 1991. Signet Bank, National Assoc of Washington, DC, took over its deposits. It held $473.8 million in assets and $404.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $77.8 million (16.4% of its assets). By assets it was the 51st largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- May 10, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Signet Bank, National Assoc, Washington, DC
- Total assets
- $473,781,000
- Total deposits
- $404,200,000
- Estimated cost to the FDIC
- $77,771,579 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 18960
Other bank failures in District of Columbia, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| City National Bank of Washington | Washington | June 25, 1993 | $24 million | $22.7 million | $1 million | Crestar Bank National As |
| Metropolitan Bank, N.A. | Washington | May 1, 1992 | $27.1 million | $27.1 million | $2.2 million | Adams National Bank |
| Theodore Roosevelt National Bank | Washington | March 26, 1992 | $13.8 million | $13.6 million | $3.4 million | Industrial Bank of Wa |
| The National Bank of Washington | Washington | August 10, 1990 | $1.65 billion | $1.27 billion | $224.3 million | The Riggs National Bank of |
All bank failures in 1991 · All bank failures in District of Columbia · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.