FIRST FEDERAL SAVINGS Failed 1991

What happened

FIRST FEDERAL SAVINGS of LUBBOCK, TX was closed on 1991-10-11. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to FIRST NB OF LUBBOCK (LUBBOCK, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3215

FDIC Certificate

29191

FDIC FIN

2189

Bank name

FIRST FEDERAL SAVINGS

Location

LUBBOCK, TX

Failure date

1991-10-11

FDIC resolution date

1992-03-20

Charter type

Savings bank

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$5M

Deposits at failure

$222M

Assets at failure

$224M

Acquiring bank

FIRST NB OF LUBBOCK (LUBBOCK, TX)