The Graveyard › Banks › 1987

First Financial Bank, FSB

New Orleans · assisted December 31, 1987 · FDIC certificate 28448

First Financial Bank, FSB of New Orleans was given assistance by the FSLIC on December 31, 1987. The FDIC's list records an assistance transaction, not a closing. It opened in 1882, 105 years before. At its last report before that it held $744.9 million in assets and $573.5 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1986, it held $790.1 million. The FDIC estimates that the FSLIC's fund lost $51.5 million on it.

1984-031987-12

Assets at the end$744.9 millionlast report before December 31, 1987

Deposits at the end$573.5 million

Estimated loss to the fund$51.5 millionFSLIC

Largest in the quarterly reports$790.1 millionSeptember 30, 1986

Equity to assets-25.8%December 31, 1987

Loans not being repaid20.8%noncurrent, December 31, 1987

Return on assets-8.55%a year's rate, December 31, 1987

Could you have seen it coming? Play Black Monday

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
Victor S&LA · Muskogee, OK · $601.3 million 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.