Bank failure · TX

Creditbanc Savings Association (Austin, TX) — failed September 30, 1988

Creditbanc Savings Association of Austin, Texas was closed on September 30, 1988 and resolved through a a/a. Franklin Federal Bcorp, a F (TX) took over its insured deposits. At failure it held $593.1M in assets and $718.6M in deposits. The FDIC's estimated loss on the failure is $732.1M (123.4% of assets).