Bank failure · LA

First National Bank of Port Allen (Port Allen, LA) — failed March 17, 1988

First National Bank of Port Allen of Port Allen, Louisiana was closed on March 17, 1988 and resolved through a purchase and assumption. Iberville Trust&savings (LA) took over its insured deposits. At failure it held $19.6M in assets and $19.1M in deposits. The FDIC's estimated loss on the failure is $4.4M (22.4% of assets).