# MAJESTIC SAVINGS ASSOCIATION

> **Failed bank** · MCKINNEY, TX · failed 1988-08-18 · SL · FDIC cost $226M

## What happened

MAJESTIC SAVINGS ASSOCIATION of MCKINNEY, TX was closed by state regulators 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
- **Estimated FDIC DIF cost:** $226M
- **Deposits at failure:** $333M
- **Assets at failure:** $283M
- **Acquiring bank:** AMERICAN FEDERAL BANK FSB (DALLAS, TX)

## Other banks AMERICAN FEDERAL BANK FSB has acquired in FDIC resolutions

- SKYLINE SAVINGS ASSOCIATION (DALLAS, TX) — failed 1988-08-18 — /failed-bank/1870
- SOUTHLAND SAVINGS ASSOCIATION (LONGVIEW, TX) — failed 1988-08-18 — /failed-bank/1869
- AMERICAN BANC SAVINGS ASSOCIAT (DALLAS, TX) — failed 1988-08-18 — /failed-bank/1868
- PARIS S&LA (PARIS, TX) — failed 1988-08-18 — /failed-bank/1867
- LONGVIEW S&LA (LONGVIEW, TX) — failed 1988-08-18 — /failed-bank/1866
- RICHARDSON SAVINGS ASSOCIATION (DALLAS, TX) — failed 1988-08-18 — /failed-bank/1865
- IRVING S&LA (IRVING, TX) — failed 1988-08-18 — /failed-bank/1863
- COMMERCE FS&LA (COMMERCE, TX) — failed 1988-08-18 — /failed-bank/1862
- GLADEWATER FS&LA (GLADEWATER, TX) — failed 1988-08-18 — /failed-bank/1861

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=MAJESTIC%20SAVINGS%20ASSOCIATION

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, MAJESTIC SAVINGS ASSOCIATION (FDIC ID 1864), failed 1988-08-18. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/1864.

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