Bank failure · TX
American S & LA of Brazoria (Lake Jackson, TX) — failed March 9, 1989
American S & LA of Brazoria of Lake Jackson, Texas was closed on March 9, 1989 and resolved through a payout (deposit payoff). Payout (NA) took over its insured deposits. At failure it held $281.3M in assets and $327.5M in deposits. The FDIC's estimated loss on the failure is $243.5M (86.6% of assets).
- Closing date
- March 9, 1989
- FDIC certificate #
- 31417
- Resolution
- Payout (deposit payoff) (failure)
- Acquiring institution
- Payout
- Insurance fund
- RTC
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