Bank Failure
Breaux Bridge Bank & Trust Company
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Closed September 17, 1987 · Breaux Bridge, LA · FDIC Cert #18440.
- Closing date
- September 17, 1987
- Headquarters
- Breaux Bridge, LA
- FDIC Certificate
- 18440
- Total assets at closing
- $22.5M
- Total deposits at closing
- $29.8M
- Estimated loss to the insurance fund
- $13.8M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Midsouth National Bank
Context
On September 17, 1987, regulators closed Breaux Bridge Bank & Trust Company, headquartered in Breaux Bridge, LA. At closing, the institution held approximately $22.5M in assets and $29.8M in deposits. The FDIC record names Midsouth National Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $13.8M.
By assets at closing this is the 2253rd largest of the 3,526 bank failures in the FDIC record, and the 103rd of 217 in 1987. 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 Breaux Bridge Bank & Trust Company fail?
Breaux Bridge Bank & Trust Company was closed by regulators on September 17, 1987.
Who acquired Breaux Bridge Bank & Trust Company?
The FDIC record names Midsouth National Bank as the acquiring institution in the resolution of Breaux Bridge Bank & Trust Company.
How big was Breaux Bridge Bank & Trust Company when it failed?
Breaux Bridge Bank & Trust Company had approximately $22.5M in total assets and $29.8M in deposits at the time of failure.
Other 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 |
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