SOUTHWEST BANK Failed 1997
What happened
SOUTHWEST BANK of JENNINGS, LA was closed on 1997-11-21. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST SOUTHWEST BANK (JENNINGS, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3512
- FDIC Certificate
- 18338
- FDIC FIN
- 4630
- Bank name
- SOUTHWEST BANK
- Location
- JENNINGS, LA
- Failure date
- 1997-11-21
- FDIC resolution date
- 1997-11-21
- 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.)
- $5M
- Deposits at failure
- $28M
- Assets at failure
- $28M
- Acquiring bank
- FIRST SOUTHWEST BANK (JENNINGS, LA)