HUB CITY BANK & TRUST COMPANY Failed 1987

What happened

HUB CITY BANK & TRUST COMPANY of LAFAYETTE, LA was closed on 1987-02-20. The FDIC was named receiver.

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

Deposits were transferred to HIBERNIA NATIONAL BANK (NEW ORLEANS, LA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1368

FDIC Certificate

19257

FDIC FIN

2649

Bank name

HUB CITY BANK & TRUST COMPANY

Location

LAFAYETTE, LA

Failure date

1987-02-20

FDIC resolution date

1987-02-20

Charter type

State commercial bank, non-Federal Reserve member (FDIC-supervised)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$13M

Deposits at failure

$38M

Assets at failure

$38M

Acquiring bank

HIBERNIA NATIONAL BANK (NEW ORLEANS, LA)

Other banks HIBERNIA NATIONAL BANK acquired in FDIC resolutions

• LIVINGSTON BANK (DENHAM SPRINGS, LA) — failed 1989-03-16
• LOUISIANA BANK & TRUST COMPANY (SHREVEPORT, LA) — failed 1989-02-16
• THE NATIONAL BANK OF BOSSIER CITY (BOSSIER CITY, LA) — failed 1989-01-12
• FIRST NATIONAL BANK (COVINGTON, LA) — failed 1988-11-18
• NATIONAL FIDELITY BANK OF SHREVEPORT (SHREVEPORT, LA) — failed 1988-07-28
• UNITED MERCANTILE BANK (SHREVEPORT, LA) — failed 1988-01-21