Bank failure · TX
Southmost S & L (Brownsville, TX) — failed March 2, 1989
Southmost S & L of Brownsville, Texas was closed on March 2, 1989 and resolved through a payout (deposit payoff). Payout (NA) took over its insured deposits. At failure it held $95.8M in assets and $113.0M in deposits. The FDIC's estimated loss on the failure is $59.3M (61.9% of assets).
- Closing date
- March 2, 1989
- FDIC certificate #
- 31394
- Resolution
- Payout (deposit payoff) (failure)
- Acquiring institution
- Payout
- Insurance fund
- RTC
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