AMERICAN BANK IN LOUISIANA Failed 1987
What happened
AMERICAN BANK IN LOUISIANA of MORGAN CITY, LA was closed on 1987-12-10. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to ST MARY BANK&TRUST CO (FRANKLIN, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1574
- FDIC Certificate
- 22990
- FDIC FIN
- 2761
- Bank name
- AMERICAN BANK IN LOUISIANA
- Location
- MORGAN CITY, LA
- Failure date
- 1987-12-10
- FDIC resolution date
- 1987-12-10
- 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.)
- $4M
- Deposits at failure
- $15M
- Assets at failure
- $15M
- Acquiring bank
- ST MARY BANK&TRUST CO (FRANKLIN, LA)