Bank Failure
SECURITY BANK
Closed October 20, 1988 · DALLAS, TX · FDIC Cert #25855.
- Closing date
- October 20, 1988
- Headquarters
- DALLAS, TX
- FDIC Certificate
- 25855
- Total assets at closing
- $21,789,000
- Total deposits at closing
- $20,851,000
- Estimated loss to DIF
- $6,596,000
- Resolution type
- other
- Acquirer
- DEPOSIT GUARANTY BANK (FDIC Cert #2928)
Context
On October 20, 1988, regulators closed SECURITY BANK, headquartered in DALLAS, TX. At closing, the institution held approximately $21,789,000 in assets and $20,851,000 in deposits. The FDIC arranged a resolution under which DEPOSIT GUARANTY BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $6,596,000.
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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