Bank failure · LA

United Mercantile Bank (Shreveport, LA) — failed January 21, 1988

United Mercantile Bank of Shreveport, Louisiana was closed on January 21, 1988 and resolved through a purchase and assumption. Hibernia National Bank (LA) took over its insured deposits. At failure it held $86.3M in assets and $78.2M in deposits. The FDIC's estimated loss on the failure is $26.4M (30.5% of assets).