The Graveyard › Banks › 1988

Southern Federal Banc S&LA

Lancaster · assisted December 22, 1988 · FDIC certificate 31348

Southern Federal Banc S&LA of Lancaster was given assistance by the FSLIC on December 22, 1988. The FDIC's list records an assistance transaction, not a closing. It opened on August 8, 1962, 26 years before. At its last report before that it held $91.3 million in assets and $166.1 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1984, it held $162.8 million. The FDIC estimates that the FSLIC's fund lost $171.9 million on it.

1984-031988-09

Assets at the end$91.3 millionlast report before December 22, 1988

Deposits at the end$166.1 million

Estimated loss to the fund$171.9 millionFSLIC

Largest in the quarterly reports$162.8 millionSeptember 30, 1984

Equity to assets-111.5%September 30, 1988

Loans not being repaid46.4%noncurrent, September 30, 1988

Return on assets-31.54%a year's rate, September 30, 1988

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Also ended in 1988

American S&LA · Stockton · $30.2 billion in assets · assisted
First Republicbank-Dallas, N.A. · Dallas, TX · $17.1 billion in assets
Gibraltar SA · Houston · $6.5 billion in assets · assisted
United Savings Association of Texas · Houston · $4.6 billion in assets · assisted
First City, Texas - Houston, NA · Houston · $4.4 billion in assets · assisted
First Texas Savings Association · Dallas · $3.1 billion 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.