STATE BANK OF COMMERCE Failed 1987
What happened
STATE BANK OF COMMERCE of SLIDELL, 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 PEOPLES B&T CO OF ST BER (CHALMETTE, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1571
- FDIC Certificate
- 24921
- FDIC FIN
- 2752
- Bank name
- STATE BANK OF COMMERCE
- Location
- SLIDELL, 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.)
- $14M
- Deposits at failure
- $49M
- Assets at failure
- $49M
- Acquiring bank
- PEOPLES B&T CO OF ST BER (CHALMETTE, LA)