Bank failure · LA

Commonwealth Savings Assoc. (New Orleans, LA) — failed July 20, 1990

Commonwealth Savings Assoc. of New Orleans, Louisiana was closed on July 20, 1990 and resolved through a insured deposit transfer. St. Bernard B&tc (LA) took over its insured deposits. At failure it held $44.0M in assets and $44.3M in deposits. The FDIC's estimated loss on the failure is $19.1M (43.3% of assets).