Data / Bank failures / 1988 / Colonial Bank
Colonial Bank, New Orleans, LA: failed January 14, 1988
Colonial Bank in New Orleans, Louisiana, failed on January 14, 1988. Pontchartrain State Bank of Metairie, LA, took over its deposits. It held $50.2 million in assets and $50.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.4 million (6.8% of its assets). By assets it was the 277th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- January 14, 1988
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Pontchartrain State Bank, Metairie, LA
- Total assets
- $50,167,000
- Total deposits
- $50,407,000
- Estimated cost to the FDIC
- $3,389,768 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 19779
Other bank failures in Louisiana, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Southern FS | New Orleans | December 28, 1990 | $230.8 million | $230 million | $7 million | |
| Bank of Commerce | Alexandria | December 13, 1990 | $19.7 million | $19.9 million | $4.1 million | The Evangeline Bank and Tru |
| Louisiana Federal Savings Bank | Kenner | November 9, 1990 | $58.8 million | $50.5 million | $9.5 million | |
| Desoto FS & La | Mansfield | November 2, 1990 | $63.9 million | $63.1 million | $8.5 million | |
| The Peoples Bank & Trust Company | Natchitoches | October 5, 1990 | $117.1 million | $115.8 million | $12.6 million | Heritage Bank of Natchitoch |
| First Fsa | Winnfield | August 31, 1990 | $54.7 million | $51.1 million | $6.3 million | |
| American Bank & Trust Company | Baton Rouge | August 2, 1990 | $351.5 million | $319.8 million | $6.2 million | Hancock Bank of Louisiana |
| United FS & La | Vidalia | July 20, 1990 | $18.9 million | $18.9 million | $193 | Concordia B&TC |
Other failed banks Pontchartrain State Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Commercial Bank & Trust Company | Metairie | LA | October 20, 1988 | $58.8 million | $56.4 million | $13.2 million | Pontchartrain State Bank |
| Louisiana Commercial Bank | Madisonville | LA | January 21, 1988 | $26.8 million | $25.7 million | $6.3 million | Pontchartrain State Bank |
All bank failures in 1988 · All bank failures in Louisiana · Every failed bank Pontchartrain State Bank 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.