Data / Bank failures / 1991 / Bank of the South
Bank of the South, Baton Rouge, LA: failed October 30, 1991
Bank of the South in Baton Rouge, Louisiana, failed on October 30, 1991. The First National Bank in of Morgan City, LA, took over its deposits. It held $31.8 million in assets and $31.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.6 million (11.3% of its assets). By assets it was the 206th largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- October 30, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- The First National Bank in, Morgan City, LA
- Total assets
- $31,835,000
- Total deposits
- $31,307,000
- Estimated cost to the FDIC
- $3,582,846 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 22824
Other bank failures in Louisiana, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Life FSB | Baton Rouge | January 29, 1993 | $16.8 million | $16.5 million | $2.2 million | Liberty B&T Co |
| Investors Bank and Trust Company | Gretna | November 13, 1992 | $51.6 million | $50.8 million | $4.8 million | Delta BANK&TRUST Co |
| Carrolton Home | New Orleans | March 13, 1992 | $35.9 million | $32.6 million | $2.2 million | Liberty B&TC |
| Progressive National Bank of Rayne | Rayne | March 12, 1992 | $11.4 million | $11.2 million | $1.7 million | ST Landry BANK&TRUST Co |
| Pelican Homestead Sa | Metairie | January 31, 1992 | $1.28 billion | $1.49 billion | $288.3 million | First Commerce Corp. |
| Oaktree Federal Savings | New Orleans | October 13, 1991 | $2.21 billion | $2.26 billion | $2.35 billion | |
| Pontchartrain State Bank | Metairie | July 19, 1991 | $140 million | $142.1 million | $29.4 million | First National Bank of Comm |
| Dryades S & La | New Orleans | June 7, 1991 | $262.3 million | $259.7 million | $15.1 million | Dryades SB, FSB |
Other failed banks The First National Bank in took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Alvarado National Bank | Alvarado | TX | November 14, 1991 | $9.2 million | $9.5 million | $2.8 million | The First National Bank in |
| Midlothian National Bank | Midlothian | TX | December 13, 1989 | $10 million | $11.5 million | $4.1 million | The First National Bank in |
| First National Bank of East Baton Rouge | Baton Rouge | LA | May 4, 1989 | $28.3 million | $30.5 million | $7.6 million | The First National Bank in |
All bank failures in 1991 · All bank failures in Louisiana · Every failed bank The First National Bank in took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.