MAGIC VALLEY S&LA Failed 1987
What happened
MAGIC VALLEY S&LA of WESLACO, TX was closed on 1987-01-16. The FDIC was named receiver.
Resolution: A/A
Deposits were transferred to SAN ANTONIO FSB (WESLACO, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1343
- FDIC Certificate
- 31598
- FDIC FIN
- 1701
- Bank name
- MAGIC VALLEY S&LA
- Location
- WESLACO, TX
- Failure date
- 1987-01-16
- FDIC resolution date
- 1987-01-16
- Charter type
- SL
- Resolution type
- A/A
- FDIC DIF cost (est.)
- $161M
- Deposits at failure
- $117M
- Assets at failure
- $103M
- Acquiring bank
- SAN ANTONIO FSB (WESLACO, TX)