Bank failure · LA

First City Bank (New Orleans, LA) — failed May 17, 1991

First City Bank of New Orleans, Louisiana was closed on May 17, 1991 and resolved through a purchase and assumption. First Bank and Trust (LA) took over its insured deposits. At failure it held $56.1M in assets and $56.5M in deposits. The FDIC's estimated loss on the failure is $10.4M (18.6% of assets).