Bank failure · TX
Magic Valley S&la (Weslaco, TX) — failed January 16, 1987
Magic Valley S&la of Weslaco, Texas was closed on January 16, 1987 and resolved through a a/a. San Antonio FSB (TX) took over its insured deposits. At failure it held $103.4M in assets and $116.5M in deposits. The FDIC's estimated loss on the failure is $160.5M (155.3% of assets).
- Closing date
- January 16, 1987
- FDIC certificate #
- 31598
- Resolution
- A/A (assistance)
- Acquiring institution
- San Antonio FSB
- Insurance fund
- FSLIC
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