Bank failure · NM

Security Fs & LA of Albuquerque (Albuquerque, NM) — failed May 3, 1991

Security Fs & LA of Albuquerque of Albuquerque, New Mexico was closed on May 3, 1991 and resolved through a purchase and assumption (insured deposits). Branch Sale (NA) took over its insured deposits. At failure it held $261.7M in assets and $193.4M in deposits. The FDIC's estimated loss on the failure is $29.4M (11.2% of assets).