Bank failure · LA
American Savings & Loan (New Orleans, LA) — failed August 7, 1989
American Savings & Loan of New Orleans, Louisiana was closed on August 7, 1989 and resolved through a insured deposit transfer. Gulf Coast B&tc (LA) took over its insured deposits. At failure it held $61.1M in assets and $71.5M in deposits. The FDIC's estimated loss on the failure is $22.2M (36.3% of assets).
- Closing date
- August 7, 1989
- FDIC certificate #
- 27755
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Gulf Coast B&tc
- Insurance fund
- RTC
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