Bank failure · TX

Southern Federal Banc S&la (Lancaster, TX) — failed December 22, 1988

Southern Federal Banc S&la of Lancaster, Texas was closed on December 22, 1988 and resolved through a a/a. Consolidated S&la (TX) took over its insured deposits. At failure it held $91.3M in assets and $166.1M in deposits. The FDIC's estimated loss on the failure is $171.9M (188.1% of assets).