Bank failure · LA
Madison Bank & Trust Company (Richmond, LA) — failed December 3, 1987
Madison Bank & Trust Company of Richmond, Louisiana was closed on December 3, 1987 and resolved through a purchase and assumption. Guaranty B&t Co of Delhi (LA) took over its insured deposits. At failure it held $9.7M in assets and $9.8M in deposits. The FDIC's estimated loss on the failure is $3.1M (32.3% of assets).
- Closing date
- December 3, 1987
- FDIC certificate #
- 23205
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Guaranty B&t Co of Delhi
- Insurance fund
- FDIC
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