Bank failure · LA

Crescent City Bank & Trust Company (New Orleans, LA) — failed December 15, 1988

Crescent City Bank & Trust Company of New Orleans, Louisiana was closed on December 15, 1988 and resolved through a purchase and assumption. Omni Bank (LA) took over its insured deposits. At failure it held $24.0M in assets and $23.1M in deposits. The FDIC's estimated loss on the failure is $6.4M (26.7% of assets).