CENTRAL PROGRESSIVE BANK Failed 2011
What happened
CENTRAL PROGRESSIVE BANK of LACOMBE, LA was closed on 2011-11-18. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST NBC BANK (NEW ORLEANS, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3980
- FDIC Certificate
- 19657
- FDIC FIN
- 10413
- Bank name
- CENTRAL PROGRESSIVE BANK
- Location
- LACOMBE, LA
- Failure date
- 2011-11-18
- FDIC resolution date
- 2011-11-18
- 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.)
- $49M
- Deposits at failure
- $348M
- Assets at failure
- $383M
- Acquiring bank
- FIRST NBC BANK (NEW ORLEANS, LA)
Other banks FIRST NBC BANK acquired in FDIC resolutions