SUMMIT SAVINGS ASSOCIATION Failed 1988

What happened

SUMMIT SAVINGS ASSOCIATION of DALLAS, TX was closed on 1988-08-19. The FDIC was named receiver.

Resolution: A/A

Deposits were transferred to SUNBELT SAVINGS FSB (DALLAS, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1875

FDIC Certificate

31641

FDIC FIN

1798

Bank name

SUMMIT SAVINGS ASSOCIATION

Location

DALLAS, TX

Failure date

1988-08-19

FDIC resolution date

1988-08-19

Charter type

SL

Resolution type

A/A

FDIC DIF cost (est.)

$325M

Deposits at failure

$321M

Assets at failure

$186M

Acquiring bank

SUNBELT SAVINGS FSB (DALLAS, TX)

Other banks SUNBELT SAVINGS FSB acquired in FDIC resolutions

• FIRST CITY SAVINGS ASSOCIATION (IRVING, TX) — failed 1988-08-19
• TEXANA S&LA (TEXARKANA, TX) — failed 1988-08-19
• SUNBELT SAVINGS ASSOCIATION OF TEXAS (DALLAS, TX) — failed 1988-08-19
• MULTIBANC SAVINGS ASSOCIATION (DALLAS, TX) — failed 1988-08-19
• FEDERATED S&LA (SAN ANTONIO, TX) — failed 1988-08-19