MADISON BANK & TRUST COMPANY Failed 1987

RICHMOND, LA · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

MADISON BANK & TRUST COMPANY of RICHMOND, LA was closed on 1987-12-03. The FDIC was named receiver.

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

Deposits were transferred to GUARANTY B&T CO OF DELHI (DELHI, LA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1570
FDIC Certificate
23205
FDIC FIN
2751
Bank name
MADISON BANK & TRUST COMPANY
Location
RICHMOND, LA
Failure date
1987-12-03
FDIC resolution date
1987-12-03
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.)
$3M
Deposits at failure
$10M
Assets at failure
$10M
Acquiring bank
GUARANTY B&T CO OF DELHI (DELHI, LA)