Down goes Franklin... Down goes Franklin

Friday Bank Faliure:


I. Introduction
On November 7, 2008, Franklin Bank, SSB, Houston, TX was closed by the Texas Department of Savings and Mortgage Lending and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information which should answer many of your questions.


II. Press Release
The FDIC has issued a press release (PR-113-2008) about the institution's closure. If you represent a media outlet and would like information about the closure, please contact David Barr at 703-622-4790 (Closing Weekend) or 202-898-6992 (Thereafter).