# PETROPLEX SAVINGS ASSOCIATION

> **Failed bank** · MIDLAND, TX · failed 1988-10-14 · SL · FDIC cost $157M

## What happened

PETROPLEX SAVINGS ASSOCIATION of MIDLAND, 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:** 1964
- **FDIC Certificate:** 32128
- **FDIC FIN:** 1808
- **Bank name:** PETROPLEX SAVINGS ASSOCIATION
- **Location:** MIDLAND, TX
- **Failure date:** 1988-10-14
- **FDIC resolution date:** 1988-10-14
- **Charter type:** SL
- **Resolution type:** A/A
- **Estimated FDIC DIF cost:** $157M
- **Deposits at failure:** $178M
- **Assets at failure:** $114M
- **Acquiring bank:** OLNEY S&LA (OLNEY, TX)

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

- 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
- FIRST FS&LA (AMARILLO, TX) — failed 1988-10-14 — /failed-bank/1956
- 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=PETROPLEX%20SAVINGS%20ASSOCIATION

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PETROPLEX SAVINGS ASSOCIATION (FDIC ID 1964), failed 1988-10-14. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/1964.

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