Bank failure · LA

Commercial Bank & Trust Company (Metairie, LA) — failed October 20, 1988

Commercial Bank & Trust Company of Metairie, Louisiana was closed on October 20, 1988 and resolved through a purchase and assumption. Pontchartrain State Bank (LA) took over its insured deposits. At failure it held $58.8M in assets and $56.4M in deposits. The FDIC's estimated loss on the failure is $13.2M (22.5% of assets).