# AMERICAN SAVINGS & LOAN

> **Failed bank** · NEW ORLEANS, LA · failed 1989-08-07 · SL · FDIC cost $22M

## What happened

AMERICAN SAVINGS & LOAN of NEW ORLEANS, LA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $22M
- **Deposits at failure:** $71M
- **Assets at failure:** $61M
- **Acquiring bank:** GULF COAST B&TC (NEW ORLEANS, LA)

## Other banks GULF COAST B&TC has acquired in FDIC resolutions

- CENTRAL SAVINGS & LOAN (NEW ORLEANS, LA) — failed 1989-08-07 — /failed-bank/2474

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=AMERICAN%20SAVINGS%20%26%20LOAN

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, AMERICAN SAVINGS & LOAN (FDIC ID 2471), failed 1989-08-07. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/2471.

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