Bank failure · TX
Vernon S&la (Vernon, TX) — failed March 20, 1987
Vernon S&la of Vernon, Texas was closed on March 20, 1987 and resolved through a abt. Montfort Savings Associatio (TX) took over its insured deposits. At failure it held $1.3B in assets and $1.6B in deposits. The FDIC's estimated loss on the failure is $1.1B (78.8% of assets).
- Closing date
- March 20, 1987
- FDIC certificate #
- 31171
- Resolution
- ABT (failure)
- Acquiring institution
- Montfort Savings Associatio
- Insurance fund
- FSLIC
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