Bank failure · LA

Merchants Trust & Savings Bank (Kenner, LA) — failed February 14, 1991

Merchants Trust & Savings Bank of Kenner, Louisiana was closed on February 14, 1991 and resolved through a purchase and assumption. First American Bank and Tru (LA) took over its insured deposits. At failure it held $43.8M in assets and $42.7M in deposits. The FDIC's estimated loss on the failure is $11.2M (25.5% of assets).