The Graveyard › Banks › 1987
American Bank in Louisiana
Morgan City, LA · failed December 10, 1987 · FDIC certificate 22990
American Bank in Louisiana of Morgan City, LA failed on December 10, 1987. It opened on December 3, 1979, 8 years before. At its last report before that it held $15.0 million in assets and $14.6 million in deposits. The FDIC estimates that the FDIC's insurance fund lost $4.0 million on it.
1984-031987-09
Assets at the end$15.0 millionlast report before December 10, 1987
Deposits at the end$14.6 million
Estimated loss to the fund$4.0 millionFDIC
Equity to assets1.7%September 30, 1987
Loans not being repaid13.8%noncurrent, September 30, 1987
Return on assets-6.82%a year's rate, September 30, 1987
Staff18full time, September 30, 1987
Also ended in 1987
- Lyons Federal Trust & Savings · Countryside · $2.3 billion in assets · assisted
- Freedom S&LA · Tampa, FL · $1.9 billion in assets
- Vernon S&LA · Vernon, TX · $1.3 billion in assets
- Syracuse Savings Bank · Syracuse · $1.2 billion in assets · assisted
- Independent American SA · Irving, TX · $1.0 billion in assets
- First Financial Bank, FSB · New Orleans · $744.9 million in assets · assisted
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.