Bank failure · TX
Valley Federal Savings (McAllen, TX) — failed October 19, 1989
Valley Federal Savings of McAllen, Texas was closed on October 19, 1989 and resolved through a purchase and assumption. International Bank of Comme (TX) took over its insured deposits. At failure it held $517.1M in assets and $542.9M in deposits. The FDIC's estimated loss on the failure is $235.3M (45.5% of assets).
- Closing date
- October 19, 1989
- FDIC certificate #
- 29183
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- International Bank of Comme
- Insurance fund
- RTC
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