Bank failure · TX

Security Bank (Dallas, TX) — failed October 20, 1988

Security Bank of Dallas, Texas was closed on October 20, 1988 and resolved through a purchase and assumption. Deposit Guaranty Bank (TX) took over its insured deposits. At failure it held $21.8M in assets and $20.9M in deposits. The FDIC's estimated loss on the failure is $6.6M (30.3% of assets).