LIFE FSB Failed 1993
What happened
LIFE FSB of BATON ROUGE, LA was closed on 1993-01-29. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to LIBERTY B&T CO (NEW ORLEANS, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3437
- FDIC Certificate
- 33186
- FDIC FIN
- 1258
- Bank name
- LIFE FSB
- Location
- BATON ROUGE, LA
- Failure date
- 1993-01-29
- FDIC resolution date
- 1994-03-25
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $2M
- Deposits at failure
- $17M
- Assets at failure
- $17M
- Acquiring bank
- LIBERTY B&T CO (NEW ORLEANS, LA)