The Graveyard › Banks › 1987

Madison Bank and Trust Company

Richmond, LA · failed December 3, 1987 · FDIC certificate 23205

Madison Bank and Trust Company of Richmond, LA failed on December 3, 1987. It opened on September 22, 1980, 7 years before. At its last report before that it held $9.7 million in assets and $9.8 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1985, it held $14.3 million. The FDIC estimates that the FDIC's insurance fund lost $3.1 million on it.

1984-031987-09

Assets at the end$9.7 millionlast report before December 3, 1987

Deposits at the end$9.8 million

Estimated loss to the fund$3.1 millionFDIC

Largest in the quarterly reports$14.3 millionDecember 31, 1985

Equity to assets-9.9%September 30, 1987

Loans not being repaid17.4%noncurrent, September 30, 1987

Return on assets-6.44%a year's rate, September 30, 1987

Staff9full time, September 30, 1987

On the FDIC's list: MADISON BANK & TRUST COMPANY.

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.