The Graveyard › Banks › 1987

French Market Homestead

Metairie, LA · failed August 6, 1987 · FDIC certificate 29902

French Market Homestead of Metairie, LA failed on August 6, 1987. It opened in 1905, 82 years before. At its last report before that it held $321.1 million in assets and $302.7 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1985, it held $360.8 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$321.1 millionlast report before August 6, 1987

Deposits at the end$302.7 million

Estimated loss to the fundnot givenFSLIC

Largest in the quarterly reports$360.8 millionMarch 31, 1985

Equity to assets-2.6%June 30, 1987

Loans not being repaid19.2%noncurrent, June 30, 1987

Return on assets-0.58%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.