Data / Bank failures / 1989 / First National Bank of East Baton Rouge
First National Bank of East Baton Rouge, Baton Rouge, LA: failed May 4, 1989
First National Bank of East Baton Rouge in Baton Rouge, Louisiana, failed on May 4, 1989. The First National Bank in of Morgan City, LA, took over its deposits. It held $28.3 million in assets and $30.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $7.6 million (26.8% of its assets). By assets it was the 405th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- May 4, 1989
- 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
- $28,297,000
- Total deposits
- $30,497,000
- Estimated cost to the FDIC
- $7,588,373 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 24318
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 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 |
| Bank of the South | Baton Rouge | LA | October 30, 1991 | $31.8 million | $31.3 million | $3.6 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 |
All bank failures in 1989 · 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.