# FIRST FS&LA

> **Failed bank** · AMARILLO, TX · failed 1988-10-14 · SL · FDIC cost $158M

## What happened

FIRST FS&LA of AMARILLO, TX was closed by state regulators on **1988-10-14**. The FDIC was named receiver.

**Resolution:** A/A

Deposits were transferred to **OLNEY S&LA** (OLNEY, TX). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1956
- **FDIC Certificate:** 29319
- **FDIC FIN:** 1808
- **Bank name:** FIRST FS&LA
- **Location:** AMARILLO, TX
- **Failure date:** 1988-10-14
- **FDIC resolution date:** 1988-10-14
- **Charter type:** SL
- **Resolution type:** A/A
- **Estimated FDIC DIF cost:** $158M
- **Deposits at failure:** $204M
- **Assets at failure:** $214M
- **Acquiring bank:** OLNEY S&LA (OLNEY, TX)

## Other banks OLNEY S&LA has acquired in FDIC resolutions

- PETROPLEX SAVINGS ASSOCIATION (MIDLAND, TX) — failed 1988-10-14 — /failed-bank/1964
- SHAMROCK FEDERAL SAVINGS BANK (SHAMROCK, TX) — failed 1988-10-14 — /failed-bank/1963
- HEART O TEXAS SAVINGS ASSOCIATION (MIDLAND, TX) — failed 1988-10-14 — /failed-bank/1962
- SOUTHERN S&LA (BROWNWOOD, TX) — failed 1988-10-14 — /failed-bank/1961
- BANC HOME SAVINGS ASSOCIATION (MIDLAND, TX) — failed 1988-10-14 — /failed-bank/1960
- SOUTHWEST S&LA (ABILENE, TX) — failed 1988-10-14 — /failed-bank/1959
- ODESSA SAVINGS ASSOCIATION (ODESSA, TX) — failed 1988-10-14 — /failed-bank/1958
- SAN ANGELO SAVINGS ASSOCIATION (SAN ANGELO, TX) — failed 1988-10-14 — /failed-bank/1957
- SECURITY FS&LA (PAMPA, TX) — failed 1988-10-14 — /failed-bank/1955
- OLNEY SAVINGS ASSOCIATION (OLNEY, TX) — failed 1988-10-14 — /failed-bank/1954

## 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 1956), failed 1988-10-14. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/failed-bank/1956.

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