MAJESTIC SAVINGS ASSOCIATION Failed 1988

What happened

MAJESTIC SAVINGS ASSOCIATION of MCKINNEY, TX was closed on 1988-08-18. The FDIC was named receiver.

Resolution: A/A

Deposits were transferred to AMERICAN FEDERAL BANK FSB (DALLAS, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1864

FDIC Certificate

30828

FDIC FIN

1797

Bank name

MAJESTIC SAVINGS ASSOCIATION

Location

MCKINNEY, TX

Failure date

1988-08-18

FDIC resolution date

1988-08-18

Charter type

SL

Resolution type

A/A

FDIC DIF cost (est.)

$226M

Deposits at failure

$333M

Assets at failure

$283M

Acquiring bank

AMERICAN FEDERAL BANK FSB (DALLAS, TX)

Other banks AMERICAN FEDERAL BANK FSB acquired in FDIC resolutions

• SKYLINE SAVINGS ASSOCIATION (DALLAS, TX) — failed 1988-08-18
• SOUTHLAND SAVINGS ASSOCIATION (LONGVIEW, TX) — failed 1988-08-18
• AMERICAN BANC SAVINGS ASSOCIAT (DALLAS, TX) — failed 1988-08-18
• PARIS S&LA (PARIS, TX) — failed 1988-08-18
• LONGVIEW S&LA (LONGVIEW, TX) — failed 1988-08-18
• RICHARDSON SAVINGS ASSOCIATION (DALLAS, TX) — failed 1988-08-18
• IRVING S&LA (IRVING, TX) — failed 1988-08-18
• COMMERCE FS&LA (COMMERCE, TX) — failed 1988-08-18
• GLADEWATER FS&LA (GLADEWATER, TX) — failed 1988-08-18