Bank failure · TX

Southern S&la (Brownwood, TX) — failed October 14, 1988

Southern S&la of Brownwood, Texas was closed on October 14, 1988 and resolved through a a/a. Olney S&la (TX) took over its insured deposits. At failure it held $154.8M in assets and $160.3M in deposits. The FDIC's estimated loss on the failure is $109.6M (70.8% of assets).