The Graveyard › Banks › 1987

Security Savings Association

Texarkana, TX · failed June 11, 1987 · FDIC certificate 31055

Security Savings Association of Texarkana, TX failed on June 11, 1987. It opened in 1958, 29 years before. At its last report before that it held $429.8 million in assets and $478.7 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1986, it held $479.6 million. The FDIC's list gives no estimate of the loss: the FDIC says its figures are not complete for its own cases before 1986 or for FSLIC cases from 1934 to 1988.

1984-031987-03

Assets at the end$429.8 millionlast report before June 11, 1987

Deposits at the end$478.7 million

Estimated loss to the fundnot givenFSLIC

Largest in the quarterly reports$479.6 millionJune 30, 1986

Equity to assets-17.3%March 31, 1987

Loans not being repaid61.8%noncurrent, March 31, 1987

Return on assets-10.88%a year's rate, March 31, 1987

Could you have seen it coming? Play Black Monday

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.