COMMERCE AND ENERGY BANK Failed 1989
What happened
COMMERCE AND ENERGY BANK of LAFAYETTE, LA was closed on 1989-05-24. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to MIDSOUTH NATIONAL BANK (LAFAYETTE, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2376
- FDIC Certificate
- 23545
- FDIC FIN
- 4021
- Bank name
- COMMERCE AND ENERGY BANK
- Location
- LAFAYETTE, LA
- Failure date
- 1989-05-24
- FDIC resolution date
- 1989-05-24
- 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
- $27M
- Assets at failure
- $29M
- Acquiring bank
- MIDSOUTH NATIONAL BANK (LAFAYETTE, LA)
Other banks MIDSOUTH NATIONAL BANK acquired in FDIC resolutions