Bank Failure
Pelican Homestead Sa
BankRegReports is independent of Pelican Homestead Sa and never asks for online banking logins or passwords.
Closed January 31, 1992 · Metairie, LA · FDIC Cert #29518.
- Closing date
- January 31, 1992
- Headquarters
- Metairie, LA
- FDIC Certificate
- 29518
- Total assets at closing
- $1.28B
- Total deposits at closing
- $1.49B
- Estimated loss to the insurance fund
- $288.3M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Commerce Corp.
Context
On January 31, 1992, regulators closed Pelican Homestead Sa, headquartered in Metairie, LA. At closing, the institution held approximately $1.28B in assets and $1.49B in deposits. The FDIC record names First Commerce Corp. as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $288.3M.
By assets at closing this is the 170th largest of the 3,526 bank failures in the FDIC record, and the 20th of 179 in 1992. 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 Pelican Homestead Sa fail?
Pelican Homestead Sa was closed by regulators on January 31, 1992.
Who acquired Pelican Homestead Sa?
The FDIC record names First Commerce Corp. as the acquiring institution in the resolution of Pelican Homestead Sa.
How big was Pelican Homestead Sa when it failed?
Pelican Homestead Sa had approximately $1.28B in total assets and $1.49B in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
Explore: all failures · LA bank events · 1992 events · events hub