Bank failure · LA

Gulf Federal Savings Bank (Metairie, LA) — failed November 21, 1986

Gulf Federal Savings Bank of Metairie, Louisiana was closed on November 21, 1986 and resolved through a a/a. Pelican Homestead & Savings (LA) took over its insured deposits. At failure it held $499.1M in assets and $375.1M in deposits. The FDIC's estimated loss on the failure is $278.8M (55.9% of assets).