THE STERLINGTON BANK Failed 1989
What happened
THE STERLINGTON BANK of STERLINGTON, LA was closed on 1989-07-13. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BANK OF ST. JOSEPH & TRUST (ST. JOSEPH, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2409
- FDIC Certificate
- 16839
- FDIC FIN
- 4032
- Bank name
- THE STERLINGTON BANK
- Location
- STERLINGTON, LA
- Failure date
- 1989-07-13
- FDIC resolution date
- 1989-07-13
- 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.)
- $4M
- Deposits at failure
- $15M
- Assets at failure
- $15M
- Acquiring bank
- BANK OF ST. JOSEPH & TRUST (ST. JOSEPH, LA)