FDIC Open-Bank Assistance

First FS&LA of Slidell

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Assistance provided December 31, 1987 · Slidell, LA · FDIC Cert #31515.

Assistance date: December 31, 1987
Headquarters: Slidell, LA
FDIC Certificate: 31515
Total assets at the time: $46.2M
Total deposits at the time: $48.8M
Estimated loss to the insurance fund: $13.2M
Insurance fund: Federal Savings and Loan Insurance Corporation (FSLIC)
Resolution: Open-bank assistance (the institution stayed open)
Acquirer: Alabama FS&LA

Context

On December 31, 1987, the FDIC provided open-bank assistance to First FS&LA of Slidell, headquartered in Slidell, LA. The institution continued operating. At the time it held approximately $46.2M in assets and $48.8M in deposits. The FDIC record names Alabama FS&LA as the acquiring institution in the assisted transaction. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $13.2M.

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 First FS&LA of Slidell?

First FS&LA of Slidell received FDIC open-bank assistance on December 31, 1987; it did not fail.

How big was First FS&LA of Slidell at the time of assistance?

First FS&LA of Slidell had approximately $46.2M in total assets and $48.8M in deposits at the time of assistance.

Bank failures in 1987

Date	Bank	HQ	Assets
Dec 18, 1987	First State Bank at Shoshoni	Shoshoni, WY	$4.6M
Dec 17, 1987	Usbank	Denton, TX	$86.0M
Dec 17, 1987	Bank of Mabank	Mabank, TX	$43.8M
Dec 17, 1987	American Bank of Commerce	Lake Charles, LA	$35.5M
Dec 11, 1987	First Interstate Bank of Alaska	Anchorage, AK	$367.7M
Dec 11, 1987	Lewis and Clark State Bank	Lake Oswego, OR	$20.3M
Dec 10, 1987	Heritage National Bank	Austin, TX	$53.2M
Dec 10, 1987	Bancfirst-Austin, N.A.	Austin, TX	$25.3M

All 1987 events ›

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