Bank failure · TX

Independence S&la (Gonzales, TX) — failed December 29, 1988

Independence S&la of Gonzales, Texas was closed on December 29, 1988 and resolved through a a/a. Pacific Southwest Bank FSB (TX) took over its insured deposits. At failure it held $59.1M in assets and $60.6M in deposits. The FDIC's estimated loss on the failure is $53.2M (90.0% of assets).