Bank failure · TX

Briercroft Savings Association (Austin, TX) — failed May 18, 1988

Briercroft Savings Association of Austin, Texas was closed on May 18, 1988 and resolved through a a/a. Southwest Sa (TX) took over its insured deposits. At failure it held $867.5M in assets and $658.6M in deposits. The FDIC's estimated loss on the failure is $222.4M (25.6% of assets).