Data / Bank failures / 1983 / Continental S&LA
Continental S&LA, New Orleans, LA: received FDIC assistance May 31, 1983
Continental S&LA in New Orleans, Louisiana, received open bank assistance from the FDIC on May 31, 1983. It held $40 million in assets and $28.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $2.9 million (7.1% of its assets). By assets it was the 54th largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- May 31, 1983
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- South SAVINGS&LOAN Assn, Slidell, LA
- Total assets
- $39,960,869
- Total deposits
- $28,577,859
- Estimated cost to the FDIC
- $2,855,000 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 27994
Other bank failures in Louisiana, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Baton Rouge S&LA (assistance) | Baton Rouge | October 1, 1985 | $116 million | $93.3 million | $5.3 million | Pelican HOMESTEAD&SVG Assn |
| Alliance FS&LA | Kenner | August 23, 1985 | $188.1 million | $134 million | $147.9 million | |
| Crescent Savings Bank | New Orleans | June 25, 1985 | $89.1 million | $84 million | $53.7 million | Horizon FS&LA |
| Northlake S&LA | Covington | June 25, 1985 | $141.4 million | $148.1 million | $89.3 million | Horizon FS&LA |
| Community FS&LA | Baton Rouge | June 25, 1985 | $47.9 million | $46.8 million | $29.7 million | Horizon FS&LA |
| Audubon S&LA | New Orleans | June 25, 1985 | $211.3 million | $222.1 million | $166.2 million | Horizon FS&LA |
| New Orleans S&LA | New Orleans | June 25, 1985 | $118.1 million | $105.3 million | $73.5 million | Horizon FS&LA |
| Sun Belt Federal Bank, FSB | Lake Providence | June 25, 1985 | $278.3 million | $269.1 million | $156.2 million | Horizon FS&LA |
All bank failures in 1983 · All bank failures in Louisiana · 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.