Bank failure · TX

Summit Savings Association (Dallas, TX) — failed August 19, 1988

Summit Savings Association of Dallas, Texas was closed on August 19, 1988 and resolved through a a/a. Sunbelt Savings FSB (TX) took over its insured deposits. At failure it held $185.9M in assets and $320.8M in deposits. The FDIC's estimated loss on the failure is $325.2M (175.0% of assets).