# COLONIAL BANK

> **Failed bank** · NEW ORLEANS, LA · failed 1988-01-14 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $3M

## What happened

COLONIAL BANK of NEW ORLEANS, LA was closed by regulators on **1988-01-14**. The FDIC was named receiver.

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

Deposits were transferred to **PONTCHARTRAIN STATE BANK** (METAIRIE, LA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1600
- **FDIC Certificate:** 19779
- **FDIC FIN:** 2771
- **Bank name:** COLONIAL BANK
- **Location:** NEW ORLEANS, LA
- **Failure date:** 1988-01-14
- **FDIC resolution date:** 1988-01-14
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $3M
- **Deposits at failure:** $50M
- **Assets at failure:** $50M
- **Acquiring bank:** PONTCHARTRAIN STATE BANK (METAIRIE, LA)

## Other banks PONTCHARTRAIN STATE BANK has acquired in FDIC resolutions

- COMMERCIAL BANK & TRUST COMPANY (METAIRIE, LA) — failed 1988-10-20 — /failed-bank/1965
- LOUISIANA COMMERCIAL BANK (MADISONVILLE, LA) — failed 1988-01-21 — /failed-bank/1609

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=COLONIAL%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, COLONIAL BANK (FDIC ID 1600), failed 1988-01-14. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/1600.

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