Bank Failure
The Planters Bank & Trust Company
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Closed January 19, 1989 · Haynesville, LA · FDIC Cert #12718.
- Closing date
- January 19, 1989
- Headquarters
- Haynesville, LA
- FDIC Certificate
- 12718
- Total assets at closing
- $57.3M
- Total deposits at closing
- $57.9M
- Estimated loss to the insurance fund
- $10.2M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Planters Bank and Trust Com
Context
On January 19, 1989, regulators closed The Planters Bank & Trust Company, headquartered in Haynesville, LA. At closing, the institution held approximately $57.3M in assets and $57.9M in deposits. The FDIC record names Planters Bank and Trust Com as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $10.2M.
By assets at closing this is the 1557th largest of the 3,526 bank failures in the FDIC record, and the 301st of 530 in 1989. 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 Planters Bank & Trust Company fail?
The Planters Bank & Trust Company was closed by regulators on January 19, 1989.
Who acquired The Planters Bank & Trust Company?
The FDIC record names Planters Bank and Trust Com as the acquiring institution in the resolution of The Planters Bank & Trust Company.
How big was The Planters Bank & Trust Company when it failed?
The Planters Bank & Trust Company had approximately $57.3M in total assets and $57.9M in deposits at the time of failure.
Other failures in 1989
| Date | Bank | Assets |
|---|---|---|
| Dec 21, 1989 | Columbia FSA | $77.1M |
| Dec 21, 1989 | Silver Savings Assoc. | $32.2M |
| Dec 20, 1989 | First City National Bank and Trust | $39.5M |
| Dec 20, 1989 | United Community Bank | $32.3M |
| Dec 15, 1989 | First American Bank and Trust | $1.38B |
| Dec 14, 1989 | Yorkridge-Calvert Federal Savings | $585.8M |
| Dec 14, 1989 | Louisiana Savings Assn. | $449.3M |
| Dec 14, 1989 | First Acadiana Bank | $46.8M |
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