PROGRESSIVE NATIONAL BANK OF RAYNE Failed 1992
What happened
PROGRESSIVE NATIONAL BANK OF RAYNE of RAYNE, LA was closed on 1992-03-12. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to ST LANDRY BANK&TRUST CO (OPELOUSAS, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3285
- FDIC Certificate
- 24601
- FDIC FIN
- 4458
- Bank name
- PROGRESSIVE NATIONAL BANK OF RAYNE
- Location
- RAYNE, LA
- Failure date
- 1992-03-12
- FDIC resolution date
- 1992-03-12
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $2M
- Deposits at failure
- $11M
- Assets at failure
- $11M
- Acquiring bank
- ST LANDRY BANK&TRUST CO (OPELOUSAS, LA)