COMMERCIAL BANK & TRUST COMPANY Failed 1988
What happened
COMMERCIAL BANK & TRUST COMPANY of METAIRIE, LA was closed on 1988-10-20. 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
- 1965
- FDIC Certificate
- 20941
- FDIC FIN
- 2927
- Bank name
- COMMERCIAL BANK & TRUST COMPANY
- Location
- METAIRIE, LA
- Failure date
- 1988-10-20
- FDIC resolution date
- 1988-10-20
- 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.)
- $13M
- Deposits at failure
- $56M
- Assets at failure
- $59M
- Acquiring bank
- PONTCHARTRAIN STATE BANK (METAIRIE, LA)
Other banks PONTCHARTRAIN STATE BANK acquired in FDIC resolutions