The Graveyard › Banks › 1987

Magic Valley S&LA

Weslaco · assisted January 16, 1987 · FDIC certificate 31598

Magic Valley S&LA of Weslaco was given assistance by the FSLIC on January 16, 1987. The FDIC's list records an assistance transaction, not a closing. It opened in 1969, 18 years before. At its last report before that it held $103.4 million in assets and $116.5 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1985, it held $213.6 million. The FDIC estimates that the FSLIC's fund lost $160.5 million on it.

1984-031986-12

Assets at the end$103.4 millionlast report before January 16, 1987

Deposits at the end$116.5 million

Estimated loss to the fund$160.5 millionFSLIC

Largest in the quarterly reports$213.6 millionMarch 31, 1985

Equity to assets-15.4%December 31, 1986

Loans not being repaid21.3%noncurrent, December 31, 1986

Return on assets-5.92%a year's rate, December 31, 1986

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Also ended in 1987

Lyons Federal Trust & Savings · Countryside · $2.3 billion in assets · assisted
Freedom S&LA · Tampa, FL · $1.9 billion in assets
Vernon S&LA · Vernon, TX · $1.3 billion in assets
Syracuse Savings Bank · Syracuse · $1.2 billion in assets · assisted
Independent American SA · Irving, TX · $1.0 billion in assets
First Financial Bank, FSB · New Orleans · $744.9 million in assets · assisted

History, not advice.

Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.