Bank failure · LA

First National Bank (Covington, LA) — failed November 18, 1988

First National Bank of Covington, Louisiana was closed on November 18, 1988 and resolved through a insured deposit transfer. Hibernia National Bank (LA) took over its insured deposits. At failure it held $262.2M in assets and $297.9M in deposits. The FDIC's estimated loss on the failure is $124.3M (47.4% of assets).