Bank failure · LA
First Eastern Bank & Trust Company (New Orleans, LA) — failed May 24, 1989
First Eastern Bank & Trust Company of New Orleans, Louisiana was closed on May 24, 1989 and resolved through a purchase and assumption. Peoples Bank & Trust Compan (LA) took over its insured deposits. At failure it held $29.4M in assets and $29.2M in deposits. The FDIC's estimated loss on the failure is $7.7M (26.1% of assets).
- Closing date
- May 24, 1989
- FDIC certificate #
- 24595
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Peoples Bank & Trust Compan
- Insurance fund
- FDIC
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