Bank failure · TX

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

Montfort Savings Association of Dallas, Texas was closed on December 27, 1988 and resolved through a a/a. First Gibralter Bank FSB (TX) took over its insured deposits. At failure it held $1.8B in assets and $671.3M in deposits. The FDIC's estimated loss on the failure is $657.7M (36.2% of assets).