BANK OF THE SOUTH Failed 1991
What happened
BANK OF THE SOUTH of BATON ROUGE, LA was closed on 1991-10-30. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to THE FIRST NATIONAL BANK IN (MORGAN CITY, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3228
- FDIC Certificate
- 22824
- FDIC FIN
- 4420
- Bank name
- BANK OF THE SOUTH
- Location
- BATON ROUGE, LA
- Failure date
- 1991-10-30
- FDIC resolution date
- 1991-10-30
- 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
- $31M
- Assets at failure
- $32M
- Acquiring bank
- THE FIRST NATIONAL BANK IN (MORGAN CITY, LA)
Other banks THE FIRST NATIONAL BANK IN acquired in FDIC resolutions