Bank failure · LA
Orleans Bank and Trust Company (New Orleans, LA) — failed January 12, 1989
Orleans Bank and Trust Company of New Orleans, Louisiana was closed on January 12, 1989 and resolved through a purchase and assumption. Mississippi River Bank (LA) took over its insured deposits. At failure it held $24.9M in assets and $24.5M in deposits. The FDIC's estimated loss on the failure is $6.5M (26.3% of assets).
- Closing date
- January 12, 1989
- FDIC certificate #
- 24959
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Mississippi River Bank
- Insurance fund
- FDIC
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