Data / Bank failures / 1988 / First National Bank of Port Allen
First National Bank of Port Allen, Port Allen, LA: failed March 17, 1988
First National Bank of Port Allen in Port Allen, Louisiana, failed on March 17, 1988. Iberville TRUST&SAVINGS of Plaquemine, LA, took over its deposits. It held $19.6 million in assets and $19.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.4 million (22.4% of its assets). By assets it was the 384th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- March 17, 1988
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Iberville TRUST&SAVINGS, Plaquemine, LA
- Total assets
- $19,553,000
- Total deposits
- $19,083,000
- Estimated cost to the FDIC
- $4,388,947 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 19898
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 |
All bank failures in 1988 · 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.