MERCHANTS TRUST & SAVINGS BANK Failed 1991
What happened
MERCHANTS TRUST & SAVINGS BANK of KENNER, LA was closed on 1991-02-14. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST AMERICAN BANK AND TRU (VACHERIE, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3018
- FDIC Certificate
- 16965
- FDIC FIN
- 4323
- Bank name
- MERCHANTS TRUST & SAVINGS BANK
- Location
- KENNER, LA
- Failure date
- 1991-02-14
- FDIC resolution date
- 1991-02-14
- 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.)
- $11M
- Deposits at failure
- $43M
- Assets at failure
- $44M
- Acquiring bank
- FIRST AMERICAN BANK AND TRU (VACHERIE, LA)
Other banks FIRST AMERICAN BANK AND TRU acquired in FDIC resolutions