PONTCHARTRAIN STATE BANK Failed 1991

What happened

PONTCHARTRAIN STATE BANK of METAIRIE, LA was closed on 1991-07-19. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to FIRST NATIONAL BANK OF COMM (NEW ORLEANS, LA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3143

FDIC Certificate

20960

FDIC FIN

4378

Bank name

PONTCHARTRAIN STATE BANK

Location

METAIRIE, LA

Failure date

1991-07-19

FDIC resolution date

1991-07-19

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.)

$29M

Deposits at failure

$142M

Assets at failure

$140M

Acquiring bank

FIRST NATIONAL BANK OF COMM (NEW ORLEANS, LA)