Bank failure · LA
Security Homestead Federal (New Orleans, LA) — failed August 7, 1989
Security Homestead Federal of New Orleans, Louisiana was closed on August 7, 1989 and resolved through a payout (deposit payoff). Branch Sale (NA) took over its insured deposits. At failure it held $547.6M in assets and $538.6M in deposits. The FDIC's estimated loss on the failure is $70.8M (12.9% of assets).
- Closing date
- August 7, 1989
- FDIC certificate #
- 28237
- Resolution
- Payout (deposit payoff) (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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