Data / Bank failures / 1986 / First Progressive Bank
First Progressive Bank, Metairie, LA: failed January 17, 1986
First Progressive Bank in Metairie, Louisiana, failed on January 17, 1986. First Industrial B&T Co of Metairie, LA, took over its deposits. It held $39.4 million in assets and $37.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $15.6 million (39.5% of its assets). By assets it was the 96th largest of 204 banks closed or assisted in 1986.
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The FDIC's record
- Closed
- January 17, 1986
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Industrial B&T Co, Metairie, LA
- Total assets
- $39,362,000
- Total deposits
- $37,908,000
- Estimated cost to the FDIC
- $15,563,083 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 21722
Other bank failures in Louisiana, 1984 to 1988
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Baton Rouge Bank & Trust Company (assistance) | Baton Rouge | December 21, 1988 | $111.5 million | $112.7 million | $18 million | Baton Rouge BANK&TRUST Co |
| Crescent City Bank & Trust Company | New Orleans | December 15, 1988 | $24 million | $23.1 million | $6.4 million | Omni Bank |
| First National Bank | Covington | November 18, 1988 | $262.2 million | $297.9 million | $124.3 million | Hibernia National Bank |
| Avoyelles Trust & Savings Bank | Bunkie | November 10, 1988 | $27.2 million | $30.2 million | $8.8 million | Bunkie BANK&TRUST Co |
| Commercial Bank & Trust Company | Metairie | October 20, 1988 | $58.8 million | $56.4 million | $13.2 million | Pontchartrain State Bank |
| Bank of the Mid-South | Bossier City | August 25, 1988 | $41.8 million | $41.1 million | $6.8 million | Red River Valley Bank |
| National Fidelity Bank of Shreveport | Shreveport | July 28, 1988 | $10.5 million | $10.6 million | $2.9 million | Hibernia National Bank |
| Claiborne Bank & Trust Company | Homer | June 29, 1988 | $13.1 million | $12.9 million | $1.3 million | Homer National Bank |
All bank failures in 1986 · 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.