WHO’S SURPRISING WHOM?

WHO’S SURPRISING WHOM?

To avert public panic and fear when an institution fails, closing team members always take great care to be

discreet when preparing to shut down the institution. The team’s hotel reservations are made with fictitious

company names, and discussions about the closing are kept to a minimum so not to be overheard by

passersby.

So imagine our surprise when we walked into Vernon Savings and Loan Association in Vernon, Texas, at

closing time on Friday, March 20, 1987. We found a huge, beautifully decorated sheet cake that read

313 (Anecdotes)

“Welcome, FSLIC.” A Vernon Savings employee later told me that her colleagues at the institution had

bets riding on which Friday would be “the day.”

Another time, my fellow closing team members and I pulled into our motel parking lot to check in only to be

greeted with “Welcome FSLIC” on the marquee. So much for the element of surprise!

--Mary Ledwin Bean