Bank Failure
FIRST TEXAS SAVINGS ASSOCIATION
Closed December 27, 1988 · DALLAS, TX · FDIC Cert #28252.
- Closing date
- December 27, 1988
- Headquarters
- DALLAS, TX
- FDIC Certificate
- 28252
- Total assets at closing
- $3,127,779,000
- Total deposits at closing
- $2,695,907,000
- Estimated loss to DIF
- $2,526,719,000
- Resolution type
- other
- Acquirer
- FIRST GIBRALTAR BANK FSB (FDIC Cert #1811)
Context
On December 27, 1988, regulators closed FIRST TEXAS SAVINGS ASSOCIATION, headquartered in DALLAS, TX. At closing, the institution held approximately $3,127,779,000 in assets and $2,695,907,000 in deposits. The FDIC arranged a resolution under which FIRST GIBRALTAR BANK FSB acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $2,526,719,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1988
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1988-12-31 | BROWARD FS&LA | SUNRISE, FL | $535,666,000 |
| 1988-12-31 | PEORIA S&LA | PEORIA, IL | $171,600,000 |
| 1988-12-30 | UNITED SAVINGS ASSOCIATION OF TEXAS | HOUSTON, TX | $4,644,939,000 |
| 1988-12-30 | COLUMBIA FS&LA | ENGLEWOOD, CO | $3,125,050,000 |
| 1988-12-30 | FIRST FS&LA OF JACKSONVILLE | JACKSONVILLE, FL | $1,243,932,000 |
| 1988-12-30 | PATHWAY FINANCIAL | CHICAGO, IL | $1,222,965,000 |
| 1988-12-30 | BEACH FS&LA | BOYNTON BEACH, FL | $1,141,671,000 |
| 1988-12-30 | JACKSON COUNTY FSA | MEDFORD, OR | $266,123,000 |
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