Bank failure · LA

Progressive National Bank of Rayne (Rayne, LA) — failed March 12, 1992

Progressive National Bank of Rayne of Rayne, Louisiana was closed on March 12, 1992 and resolved through a purchase and assumption. St Landry Bank&trust Co (LA) took over its insured deposits. At failure it held $11.4M in assets and $11.2M in deposits. The FDIC's estimated loss on the failure is $1.7M (14.5% of assets).