Bank failure · LA

Pelican Homestead Sa (Metairie, LA) — failed January 31, 1992

Pelican Homestead Sa of Metairie, Louisiana was closed on January 31, 1992 and resolved through a purchase and assumption. First Commerce Corp. (LA) took over its insured deposits. At failure it held $1.3B in assets and $1.5B in deposits. The FDIC's estimated loss on the failure is $288.3M (22.4% of assets).