BANK OF THE MID-SOUTH Failed 1988
What happened
BANK OF THE MID-SOUTH of BOSSIER CITY, LA was closed on 1988-08-25. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to RED RIVER VALLEY BANK (BOSSIER CITY, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1878
- FDIC Certificate
- 22845
- FDIC FIN
- 2896
- Bank name
- BANK OF THE MID-SOUTH
- Location
- BOSSIER CITY, LA
- Failure date
- 1988-08-25
- FDIC resolution date
- 1988-08-25
- 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.)
- $7M
- Deposits at failure
- $41M
- Assets at failure
- $42M
- Acquiring bank
- RED RIVER VALLEY BANK (BOSSIER CITY, LA)
Other banks RED RIVER VALLEY BANK acquired in FDIC resolutions