Data / Bank failures / 1989 / Evangeline Federal Savings & Loan
Evangeline Federal Savings & Loan, Lafayette, LA: failed March 16, 1989
Evangeline Federal Savings & Loan in Lafayette, Louisiana, failed on March 16, 1989. Hibernia NB of New Orleans, LA, took over its deposits. It held $37.4 million in assets and $79.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $60.9 million (162.7% of its assets). By assets it was the 356th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- March 16, 1989
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Hibernia NB, New Orleans, LA
- Total assets
- $37,396,000
- Total deposits
- $79,422,000
- Estimated cost to the FDIC
- $60,858,123 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 32131
Other bank failures in Louisiana, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Bank of the South | Baton Rouge | October 30, 1991 | $31.8 million | $31.3 million | $3.6 million | The First National Bank in |
| 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 |
| First City Bank | New Orleans | May 17, 1991 | $56.1 million | $56.5 million | $10.4 million | First Bank and Trust |
| Vermilion FSB | Abbeville | May 10, 1991 | $17.8 million | $17.6 million | $322,527 | First Acadiana NB |
| American Bank & Trust Company | Shreveport | April 11, 1991 | $60.9 million | $60.4 million | $10.5 million | Tri-State Bank and Trust |
| Merchants Trust & Savings Bank | Kenner | February 14, 1991 | $43.8 million | $42.7 million | $11.2 million | First American Bank and Tru |
Other failed banks Hibernia NB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| River City Federal Savings | Baton Rouge | LA | March 16, 1989 | $61.2 million | $98.3 million | $86.6 million | Hibernia NB |
| First Savings of Louisiana | La Place | LA | March 2, 1989 | $25.9 million | $44.7 million | $34.3 million | Hibernia NB |
All bank failures in 1989 · All bank failures in Louisiana · Every failed bank Hibernia NB 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.