The Graveyard › Banks › 1989
First Eastern Bank & Trust Company
New Orleans, LA · failed May 24, 1989 · FDIC certificate 24595
First Eastern Bank & Trust Company of New Orleans, LA failed on May 24, 1989. It opened on August 1, 1983, 5 years before. At its last report before that it held $29.4 million in assets and $29.2 million in deposits. The FDIC estimates that the FDIC's insurance fund lost $7.7 million on it.
1984-031989-03
Assets at the end$29.4 millionlast report before May 24, 1989
Deposits at the end$29.2 million
Estimated loss to the fund$7.7 millionFDIC
Largest in the quarterly reports$30.6 millionDecember 31, 1988
Equity to assets-0.3%March 31, 1989
Loans not being repaid9.3%noncurrent, March 31, 1989
Return on assets-2.44%a year's rate, March 31, 1989
Staff18full time, March 31, 1989
Also ended in 1989
- Gibraltar Savings, FA · Simi Valley, CA · $13.4 billion in assets
- City Savings, FSB · Somerset, NJ · $9.8 billion in assets
- MBank Dallas, National Association · Dallas, TX · $6.6 billion in assets
- Western Savings & Loan · Phoenix, AZ · $5.7 billion in assets
- Lincoln Savings & Loan · Irvine, CA · $4.9 billion in assets
- University Federal Savings · Houston, TX · $4.5 billion in assets
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.