AMERICAN SAVINGS & LOAN Failed 1989
What happened
AMERICAN SAVINGS & LOAN of NEW ORLEANS, LA was closed on 1989-08-07. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to GULF COAST B&TC (NEW ORLEANS, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2471
- FDIC Certificate
- 27755
- FDIC FIN
- 7044
- Bank name
- AMERICAN SAVINGS & LOAN
- Location
- NEW ORLEANS, LA
- Failure date
- 1989-08-07
- FDIC resolution date
- 1990-06-08
- Charter type
- SL
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $22M
- Deposits at failure
- $71M
- Assets at failure
- $61M
- Acquiring bank
- GULF COAST B&TC (NEW ORLEANS, LA)
Other banks GULF COAST B&TC acquired in FDIC resolutions