# FIRST PROGRESSIVE BANK

> **Failed bank** · METAIRIE, LA · failed 1986-01-17 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $16M

## What happened

FIRST PROGRESSIVE BANK of METAIRIE, LA was closed by regulators on **1986-01-17**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **FIRST INDUSTRIAL B&T CO** (METAIRIE, LA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1134
- **FDIC Certificate:** 21722
- **FDIC FIN:** 2530
- **Bank name:** FIRST PROGRESSIVE BANK
- **Location:** METAIRIE, LA
- **Failure date:** 1986-01-17
- **FDIC resolution date:** 1986-01-17
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $16M
- **Deposits at failure:** $38M
- **Assets at failure:** $39M
- **Acquiring bank:** FIRST INDUSTRIAL B&T CO (METAIRIE, LA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20PROGRESSIVE%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST PROGRESSIVE BANK (FDIC ID 1134), failed 1986-01-17. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/failed-bank/1134.

---

*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*