The Graveyard › Banks › 1987

First Savings of La

La Place, LA · failed August 19, 1987 · FDIC certificate 31663

First Savings of La of La Place, LA failed on August 19, 1987. It opened on December 3, 1973, 13 years before. At its last report before that it held $33.6 million in assets and $44.6 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1985, it held $51.8 million. The FDIC's list gives no estimate of the loss: the FDIC says its figures are not complete for its own cases before 1986 or for FSLIC cases from 1934 to 1988.

1984-031987-06

Assets at the end$33.6 millionlast report before August 19, 1987

Deposits at the end$44.6 million

Estimated loss to the fundnot givenFSLIC

Largest in the quarterly reports$51.8 millionJune 30, 1985

Equity to assets-47.8%June 30, 1987

Loans not being repaid55.9%noncurrent, June 30, 1987

Return on assets-10.47%a year's rate, June 30, 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
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.