FDIC Open-Bank Assistance
Bayou FS&LA
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Assistance provided March 20, 1987 · New Orleans, LA · FDIC Cert #32156.
- Assistance date
- March 20, 1987
- Headquarters
- New Orleans, LA
- FDIC Certificate
- 32156
- Total assets at the time
- $25.8M
- Total deposits at the time
- $28.3M
- Estimated loss to the insurance fund
- $12.5M
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- First FSB of New Orleans
Context
On March 20, 1987, the FDIC provided open-bank assistance to Bayou FS&LA, headquartered in New Orleans, LA. The institution continued operating. At the time it held approximately $25.8M in assets and $28.3M in deposits. The FDIC record names First FSB of New Orleans as the acquiring institution in the assisted transaction. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $12.5M.
The FDIC record for 1987 holds 217 failures and 45 open-bank assistance transactions. 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 the FDIC provide assistance to Bayou FS&LA?
Bayou FS&LA received FDIC open-bank assistance on March 20, 1987; it did not fail.
How big was Bayou FS&LA at the time of assistance?
Bayou FS&LA had approximately $25.8M in total assets and $28.3M in deposits at the time of assistance.
Bank failures in 1987
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1987 | First State Bank at Shoshoni | $4.6M |
| Dec 17, 1987 | Usbank | $86.0M |
| Dec 17, 1987 | Bank of Mabank | $43.8M |
| Dec 17, 1987 | American Bank of Commerce | $35.5M |
| Dec 11, 1987 | First Interstate Bank of Alaska | $367.7M |
| Dec 11, 1987 | Lewis and Clark State Bank | $20.3M |
| Dec 10, 1987 | Heritage National Bank | $53.2M |
| Dec 10, 1987 | Bancfirst-Austin, N.A. | $25.3M |
Explore: all failures · LA bank events · 1987 events · events hub