Bank failure · OK

Heritage S&la (Elk City, OK) — failed August 31, 1988

Heritage S&la of Elk City, Oklahoma was closed on August 31, 1988 and resolved through a assisted merger. Red River (OK) took over its insured deposits. At failure it held $80.8M in assets and $90.2M in deposits. The FDIC's estimated loss on the failure is $82.7M (102.3% of assets).