Data / Bank failures / 1988 / San Angelo Savings Association
San Angelo Savings Association, San Angelo, TX: received FDIC assistance October 14, 1988
San Angelo Savings Association in San Angelo, Texas, received open bank assistance from the FDIC on October 14, 1988. It held $124.5 million in assets and $162.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $178 million (142.9% of its assets). By assets it was the 166th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- October 14, 1988
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Olney S&LA, Olney, TX
- Total assets
- $124,534,000
- Total deposits
- $162,840,000
- Estimated cost to the FDIC
- $177,990,500 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 29883
Other bank failures in Texas, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Peoples State Bank | Dallas | December 14, 1990 | $30.3 million | $30.6 million | $6.3 million | Comerica Bank - Texas |
| The State Bank of Omaha | Omaha | December 14, 1990 | $20.5 million | $20.6 million | $5.3 million | The First National Bank of |
| Washington County State Bank | Brenham | December 13, 1990 | $77.7 million | $77.5 million | $9.4 million | Channelview Bank |
| Andrews Savings & Loan Assoc. | Andrews | December 7, 1990 | $126.1 million | $109.7 million | $11 million | |
| First National Bank of Rowlett | Rowlett | December 7, 1990 | $20.5 million | $21.4 million | $6.5 million | U.S. Trust Company of Texas |
| Heights Bank | Harker Heights | December 7, 1990 | $28.8 million | $27 million | $4.7 million | Heights State Bank |
| First Southwest FS & La | Tyler | November 30, 1990 | $51.2 million | $45.3 million | $4.9 million | Citizens Bank |
| Atascosa Sa | Jourdanton | November 30, 1990 | $34.7 million | $32.9 million | $7.1 million |
Other failed banks Olney S&LA took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Petroplex Savings Association (assistance) | Midland | TX | October 14, 1988 | $113.9 million | $178.1 million | $156.5 million | Olney S&LA |
| Shamrock Federal Savings Bank (assistance) | Shamrock | TX | October 14, 1988 | $102.3 million | $104 million | $81.9 million | Olney S&LA |
| Heart O Texas Savings Association (assistance) | Midland | TX | October 14, 1988 | $269.5 million | $201.7 million | $97.4 million | Olney S&LA |
| Southern S&LA (assistance) | Brownwood | TX | October 14, 1988 | $154.9 million | $160.3 million | $109.6 million | Olney S&LA |
| Banc Home Savings Association (assistance) | Midland | TX | October 14, 1988 | $603.4 million | $680.9 million | $44.2 million | Olney S&LA |
| Southwest S&LA (assistance) | Abilene | TX | October 14, 1988 | $154.3 million | $328.8 million | $415.7 million | Olney S&LA |
| Odessa Savings Association (assistance) | Odessa | TX | October 14, 1988 | $132.1 million | $156.6 million | $90.9 million | Olney S&LA |
| First FS&LA (assistance) | Amarillo | TX | October 14, 1988 | $214.1 million | $203.8 million | $157.7 million | Olney S&LA |
All bank failures in 1988 · All bank failures in Texas · Every failed bank Olney S&LA took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.