Bank failure · NM

First Federal Savings Assoc. (Las Vegas, NM) — failed November 16, 1990

First Federal Savings Assoc. of Las Vegas, New Mexico was closed on November 16, 1990 and resolved through a purchase and assumption. Bank of Nm, & Las Vegas (NM) took over its insured deposits. At failure it held $55.4M in assets and $41.4M in deposits. The FDIC's estimated loss on the failure is $14.4M (26.0% of assets).