Bank Failure
Bank of Commerce
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Closed December 13, 1990 · Alexandria, LA · FDIC Cert #26835.
- Closing date
- December 13, 1990
- Headquarters
- Alexandria, LA
- FDIC Certificate
- 26835
- Total assets at closing
- $19.6M
- Total deposits at closing
- $19.9M
- Estimated loss to the insurance fund
- $4.1M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- The Evangeline Bank and Tru
Context
On December 13, 1990, regulators closed Bank of Commerce, headquartered in Alexandria, LA. At closing, the institution held approximately $19.6M in assets and $19.9M in deposits. The FDIC record names The Evangeline Bank and Tru as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $4.1M.
By assets at closing this is the 2356th largest of the 3,526 bank failures in the FDIC record, and the 318th of 381 in 1990. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Bank of Commerce fail?
Bank of Commerce was closed by regulators on December 13, 1990.
Who acquired Bank of Commerce?
The FDIC record names The Evangeline Bank and Tru as the acquiring institution in the resolution of Bank of Commerce.
How big was Bank of Commerce when it failed?
Bank of Commerce had approximately $19.6M in total assets and $19.9M in deposits at the time of failure.
Other failures in 1990
| Date | Bank | Assets |
|---|---|---|
| Dec 28, 1990 | Capitol Bank and Trust Company | $485.6M |
| Dec 28, 1990 | Southern FS | $230.8M |
| Dec 28, 1990 | First FS & La of Andalusia | $38.7M |
| Dec 27, 1990 | Enterprise Savings Bank, F.A. | $432.6M |
| Dec 21, 1990 | Arkansas FSB | $71.7M |
| Dec 15, 1990 | Mid-America FS & La | $1.21B |
| Dec 14, 1990 | Community FS & La | $1.98B |
| Dec 14, 1990 | Comfed Savings Bank | $1.40B |
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