Bank failure · TX

First Federal Savings (Beaumont, TX) — failed September 27, 1991

First Federal Savings of Beaumont, Texas was closed on September 27, 1991 and resolved through a purchase and assumption. Kilgore Fs&la (TX) took over its insured deposits. At failure it held $251.2M in assets and $251.7M in deposits. The FDIC's estimated loss on the failure is $24.9M (9.9% of assets).