Bank failure · TX

First Fs&la (Austin, TX) — failed September 30, 1988

First Fs&la of Austin, Texas was closed on September 30, 1988 and resolved through a a/a. Guaranty FSB (TX) took over its insured deposits. At failure it held $1.0B in assets and $904.5M in deposits. The FDIC's estimated loss on the failure is $480.1M (47.4% of assets).