The Graveyard › Banks › 1986
First Progressive Bank
Metairie, LA · failed January 17, 1986 · FDIC certificate 21722
First Progressive Bank of Metairie, LA failed on January 17, 1986. It opened on August 9, 1974, 11 years before. At its last report before that it held $39.4 million in assets and $37.9 million in deposits. The FDIC estimates that the FDIC's insurance fund lost $15.6 million on it.
1984-031985-09
Assets at the end$39.4 millionlast report before January 17, 1986
Deposits at the end$37.9 million
Estimated loss to the fund$15.6 millionFDIC
Largest in the quarterly reports$41.3 millionMarch 31, 1985
Equity to assets2.8%September 30, 1985
Loans not being repaid17.9%noncurrent, September 30, 1985
Return on assets-4.19%a year's rate, September 30, 1985
Staff45full time, September 30, 1985
Also ended in 1986
- Western S&LA · Dallas, TX · $2.0 billion in assets
- The First National Bank & Trust Co. of Oklahoma · Oklahoma City, OK · $1.8 billion in assets
- Firstsouth Fs&La · Pine Bluff, AR · $1.7 billion in assets
- National Permanent Bank FSB · Washington · $1.0 billion in assets · assisted
- Mainland S&LA · Houston, TX · $1.0 billion in assets
- American Diversified Savings Bank · Costa Mesa · $978.6 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.