Bank Failure
Merchants Trust & Savings Bank
BankRegReports is independent of Merchants Trust & Savings Bank and never asks for online banking logins or passwords.
Closed February 14, 1991 · Kenner, LA · FDIC Cert #16965.
- Closing date
- February 14, 1991
- Headquarters
- Kenner, LA
- FDIC Certificate
- 16965
- Total assets at closing
- $43.8M
- Total deposits at closing
- $42.7M
- Estimated loss to the insurance fund
- $11.2M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First American Bank and Tru
Context
On February 14, 1991, regulators closed Merchants Trust & Savings Bank, headquartered in Kenner, LA. At closing, the institution held approximately $43.8M in assets and $42.7M in deposits. The FDIC record names First American Bank and Tru as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $11.2M.
By assets at closing this is the 1749th largest of the 3,526 bank failures in the FDIC record, and the 181st of 268 in 1991. 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 Merchants Trust & Savings Bank fail?
Merchants Trust & Savings Bank was closed by regulators on February 14, 1991.
Who acquired Merchants Trust & Savings Bank?
The FDIC record names First American Bank and Tru as the acquiring institution in the resolution of Merchants Trust & Savings Bank.
How big was Merchants Trust & Savings Bank when it failed?
Merchants Trust & Savings Bank had approximately $43.8M in total assets and $42.7M in deposits at the time of failure.
Other failures in 1991
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1991 | North Ridge Bank | $94.3M |
| Dec 13, 1991 | Investors FSB | $2.06B |
| Dec 13, 1991 | The Bank Mart | $578.2M |
| Dec 13, 1991 | Merchants National Bank | $153.6M |
| Dec 13, 1991 | Bank of East Hartford | $36.6M |
| Dec 13, 1991 | Federal Finance & Mortgage, LTD | $7.7M |
| Dec 12, 1991 | Granite Co-Operative Bank | $103.8M |
| Dec 6, 1991 | Saybrook Bank and Trust Company | $77.3M |
Explore: all failures · LA bank events · 1991 events · events hub