Bank failure · TX

Southland Savings Association (Longview, TX) — failed August 18, 1988

Southland Savings Association of Longview, Texas was closed on August 18, 1988 and resolved through a a/a. American Federal Bank FSB (TX) took over its insured deposits. At failure it held $31.5M in assets and $34.5M in deposits. The FDIC's estimated loss on the failure is $21.3M (67.7% of assets).