Sharpstown State Bank organization
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Penn Square Bankorganization · 1Federal Savings and Loan Insurance Corporationorganization · 1Seattle First Nationalorganization · 1
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had to be sold to avoid a bailout. The FDIC paid off $218 million in insured deposits at Penn Square, the largest payoff since 1971, when $80 million was required for the failure of Sharpstown State Bank in Houston. This failure was part of…