# FIRST NATIONAL BANK

> **Failed bank** · COVINGTON, LA · failed 1988-11-18 · National commercial bank (OCC-chartered) · FDIC cost $124M

## What happened

FIRST NATIONAL BANK of COVINGTON, LA was closed by the OCC on **1988-11-18**. The FDIC was named receiver.

**Resolution:** Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to **HIBERNIA NATIONAL BANK** (NEW ORLEANS, LA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1985
- **FDIC Certificate:** 18554
- **FDIC FIN:** 5953
- **Bank name:** FIRST NATIONAL BANK
- **Location:** COVINGTON, LA
- **Failure date:** 1988-11-18
- **FDIC resolution date:** 1988-11-18
- **Charter type:** National commercial bank (OCC-chartered)
- **Resolution type:** Insured Deposit Transfer — insured deposits transferred to another bank
- **Estimated FDIC DIF cost:** $124M
- **Deposits at failure:** $298M
- **Assets at failure:** $262M
- **Acquiring bank:** HIBERNIA NATIONAL BANK (NEW ORLEANS, LA)

## Other banks HIBERNIA NATIONAL BANK has acquired in FDIC resolutions

- LIVINGSTON BANK (DENHAM SPRINGS, LA) — failed 1989-03-16 — /failed-bank/2224
- LOUISIANA BANK & TRUST COMPANY (SHREVEPORT, LA) — failed 1989-02-16 — /failed-bank/2103
- THE NATIONAL BANK OF BOSSIER CITY (BOSSIER CITY, LA) — failed 1989-01-12 — /failed-bank/2068
- NATIONAL FIDELITY BANK OF SHREVEPORT (SHREVEPORT, LA) — failed 1988-07-28 — /failed-bank/1800
- UNITED MERCANTILE BANK (SHREVEPORT, LA) — failed 1988-01-21 — /failed-bank/1606
- HUB CITY BANK & TRUST COMPANY (LAFAYETTE, LA) — failed 1987-02-20 — /failed-bank/1368

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST NATIONAL BANK (FDIC ID 1985), failed 1988-11-18. Retrieved via AI Analytics 2026-05-16 from https://api.ai-analytics.org/failed-bank/1985.

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