Bank failure · LA
Elmwood Fed. S & L Assoc. (Harahan, LA) — failed March 2, 1989
Elmwood Fed. S & L Assoc. of Harahan, Louisiana was closed on March 2, 1989 and resolved through a insured deposit transfer. First Nb of Commerce (LA) took over its insured deposits. At failure it held $57.4M in assets and $48.3M in deposits. The FDIC's estimated loss on the failure is $25.2M (43.9% of assets).
- Closing date
- March 2, 1989
- FDIC certificate #
- 31968
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- First Nb of Commerce
- Insurance fund
- RTC
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