A federal regulator says the government's consolidation of 12 insolvent Texas savings and loan institutions is a sign of things to come, in Texas and elsewhere in the nation.

M. Danny Wall, chairman of the Federal Home Loan Bank Board, said he would not specify when the next consolidation would take place. But he indicated that about half of an estimated 200 insolvent S&L cases in various states of negotiation, bidding and marketing may be resolved by the end of the year.Wall's comments came Thursday at the announcement of the fourth consolidation under the "Southwest Plan" to consolidate and recapitalize ailing S&Ls in the region. The latest consolidation doubles the number of Texas thrifts to be merged since the first such transaction in May.

The consolidation brings to 68 the number of mergers, consolidations and "insurance actions" approved nationwide by the board so far this year, Wall said, "ahead of what we had established as a minimum goal so far this year and that ratio, that average per week, would only continue to increase as we move toward the end of the year."

FSLIC is expected to spend $1.3 billion on the consolidation, Wall said, while outside investors will put in $48 million.

The new thrift institution will be called American Federal Bank F.S.B., with headquarters in Dallas. It has more than 50 branches in Texas, but it was not immediately known how many would be closed.

FSLIC, which insures most of the nation's S&Ls, has agreed to provide an immediate $499 million note to fund the new company.

The bank board, regulator of the thrift industry, said the 12 thrifts had combined assets of nearly $2.4 billion and liabilities of $3 billion.

Helping lead the private investors is William E. Gibson, executive vice president of Continental Illinois National Bank and Trust in Chicago and Continental Illinois Corp.

The FHLBB said a subsidiary of Lone Star Technologies Inc. of Dallas - LSST Financial Services Corp. - is working with the Gibson Group Inc., a private investment group organized by Gibson, to establish the new institution.