THE PEOPLES BANK AND TRUST OF IBERIA PARIS Failed 1987
What happened
THE PEOPLES BANK AND TRUST OF IBERIA PARIS of NEW IBERIA, LA was closed on 1987-11-19. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to NEW IBERIA BANK (NEW IBERIA, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1558
- FDIC Certificate
- 4295
- FDIC FIN
- 2748
- Bank name
- THE PEOPLES BANK AND TRUST OF IBERIA PARIS
- Location
- NEW IBERIA, LA
- Failure date
- 1987-11-19
- FDIC resolution date
- 1987-11-19
- 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.)
- $9M
- Deposits at failure
- $76M
- Assets at failure
- $79M
- Acquiring bank
- NEW IBERIA BANK (NEW IBERIA, LA)