Data / Bank failures / 1987 / First FS&LA of Alexandria
First FS&LA of Alexandria, Alexandria, LA: received FDIC assistance December 30, 1987
First FS&LA of Alexandria in Alexandria, Louisiana, received open bank assistance from the FDIC on December 30, 1987. It held $148.7 million in assets and $149.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $48.9 million (32.9% of its assets). By assets it was the 40th largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- December 30, 1987
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Pelican HOMESTEAD&SVG Assn, Metairie, LA
- Total assets
- $148,689,000
- Total deposits
- $149,418,000
- Estimated cost to the FDIC
- $48,928,490 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 30047
Other bank failures in Louisiana, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Red River S & L Assoc. | Coushatta | December 14, 1989 | $10.4 million | $7.7 million | $3.3 million | Peoples State Bank |
| Louisiana Savings Assn. | Lake Charles | December 14, 1989 | $449.3 million | $398.8 million | $114.1 million | |
| First Acadiana Bank | Eunice | December 14, 1989 | $46.8 million | $44.6 million | $6 million | American Security Bank of V |
| First Bank, Pineville, Louisiana | Pineville | December 8, 1989 | $72.3 million | $69.3 million | $39.5 million | Rapides Bank & Trust Compan |
| Security National Bank of Shreveport | Shreveport | November 17, 1989 | $19.4 million | $20.2 million | $7.2 million | |
| First Louisiana Federal Savings | Lafayette | November 2, 1989 | $161.9 million | $105.8 million | $42.9 million | ST. Landry B&T Co. |
| Bank of ST. Charles | ST. Rose | November 2, 1989 | $65.2 million | $65.2 million | $11.1 million | First American Bank and Tru |
| Western National Bank of Louisiana | Kaplan | October 26, 1989 | $11.8 million | $11.9 million | $1.5 million | Kaplan State Bank |
Other failed banks Pelican HOMESTEAD&SVG Assn took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Firstbanc FSB (assistance) | Gonzales | LA | December 30, 1987 | $46.3 million | $47.1 million | $33.1 million | Pelican HOMESTEAD&SVG Assn |
| First Financial of La (assistance) | Lutcher | LA | December 30, 1987 | $159.5 million | $151.5 million | $105.7 million | Pelican HOMESTEAD&SVG Assn |
| Baton Rouge S&LA (assistance) | Baton Rouge | LA | October 1, 1985 | $116 million | $93.3 million | $5.3 million | Pelican HOMESTEAD&SVG Assn |
All bank failures in 1987 · All bank failures in Louisiana · Every failed bank Pelican HOMESTEAD&SVG Assn 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.