Bank failure · TX

First Texas Savings Association (Dallas, TX) — failed December 27, 1988

First Texas Savings Association of Dallas, Texas was closed on December 27, 1988 and resolved through a a/a. First Gibraltar Bank FSB (TX) took over its insured deposits. At failure it held $3.1B in assets and $2.7B in deposits. The FDIC's estimated loss on the failure is $2.5B (80.8% of assets).