Bank failure · LA
Commerce and Energy Bank (Lafayette, LA) — failed May 24, 1989
Commerce and Energy Bank of Lafayette, Louisiana was closed on May 24, 1989 and resolved through a purchase and assumption. Midsouth National Bank (LA) took over its insured deposits. At failure it held $29.5M in assets and $27.1M in deposits. The FDIC's estimated loss on the failure is $6.7M (22.6% of assets).
- Closing date
- May 24, 1989
- FDIC certificate #
- 23545
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Midsouth National Bank
- Insurance fund
- FDIC
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