Bank failure · TX
Independent American Sa (Irving, TX) — failed May 20, 1987
Independent American Sa of Irving, Texas was closed on May 20, 1987 and resolved through a assisted merger. Sunbelt Savings, FSB (TX) took over its insured deposits. At failure it held $1.0B in assets and $1.4B in deposits. The FDIC's estimated loss on the failure is $1.6B (156.0% of assets).
- Closing date
- May 20, 1987
- FDIC certificate #
- 31130
- Resolution
- Assisted merger (failure)
- Acquiring institution
- Sunbelt Savings, FSB
- Insurance fund
- FSLIC
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