Bank failure · LA

Southern Fs (New Orleans, LA) — failed December 28, 1990

Southern Fs of New Orleans, Louisiana was closed on December 28, 1990 and resolved through a payout (deposit payoff). Branch Sale (NA) took over its insured deposits. At failure it held $230.8M in assets and $230.0M in deposits. The FDIC's estimated loss on the failure is $7.0M (3.0% of assets).