# FIRST FS&LA

> **Failed bank** · AUSTIN, TX · failed 1988-09-30 · SL · FDIC cost $480M

## What happened

FIRST FS&LA of AUSTIN, TX was closed by state regulators on **1988-09-30**. The FDIC was named receiver.

**Resolution:** A/A

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


## Key facts

- **FDIC ID:** 1939
- **FDIC Certificate:** 29080
- **FDIC FIN:** 1806
- **Bank name:** FIRST FS&LA
- **Location:** AUSTIN, TX
- **Failure date:** 1988-09-30
- **FDIC resolution date:** 1988-09-30
- **Charter type:** SL
- **Resolution type:** A/A
- **Estimated FDIC DIF cost:** $480M
- **Deposits at failure:** $904M
- **Assets at failure:** $1,013M
- **Acquiring bank:** GUARANTY FSB (DALLAS, TX)

## Other banks GUARANTY FSB has acquired in FDIC resolutions

- TEXASBANC SAVINGS (CONROE, TX) — failed 1990-02-23 — /failed-bank/2678
- GUARANTY FS&LA (DALLAS, TX) — failed 1988-09-30 — /failed-bank/1946
- DELTA SAVINGS ASSOCIATION OF TEXAS (ALVIN, TX) — failed 1988-09-30 — /failed-bank/1942

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20FS%26LA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST FS&LA (FDIC ID 1939), failed 1988-09-30. Retrieved via AI Analytics 2026-08-30 from https://api.ai-analytics.org/failed-bank/1939.

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