Data / Bank failures / 1991 / Merchants Trust & Savings Bank
Merchants Trust & Savings Bank, Kenner, LA: failed February 14, 1991
Merchants Trust & Savings Bank in Kenner, Louisiana, failed on February 14, 1991. First American Bank and Tru of Vacherie, LA, took over its deposits. It held $43.8 million in assets and $42.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $11.2 million (25.5% of its assets). By assets it was the 181st largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- February 14, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First American Bank and Tru, Vacherie, LA
- Total assets
- $43,848,000
- Total deposits
- $42,729,000
- Estimated cost to the FDIC
- $11,175,453 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 16965
Other bank failures in Louisiana, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Life FSB | Baton Rouge | January 29, 1993 | $16.8 million | $16.5 million | $2.2 million | Liberty B&T Co |
| Investors Bank and Trust Company | Gretna | November 13, 1992 | $51.6 million | $50.8 million | $4.8 million | Delta BANK&TRUST Co |
| Carrolton Home | New Orleans | March 13, 1992 | $35.9 million | $32.6 million | $2.2 million | Liberty B&TC |
| Progressive National Bank of Rayne | Rayne | March 12, 1992 | $11.4 million | $11.2 million | $1.7 million | ST Landry BANK&TRUST Co |
| Pelican Homestead Sa | Metairie | January 31, 1992 | $1.28 billion | $1.49 billion | $288.3 million | First Commerce Corp. |
| 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 |
Other failed banks First American Bank and Tru took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First American Bank and Trust | North Palm Beach | FL | December 15, 1989 | $1.38 billion | $1.01 billion | $383.1 million | First American Bank and Tru |
| Bank of ST. Charles | ST. Rose | LA | November 2, 1989 | $65.2 million | $65.2 million | $11.1 million | First American Bank and Tru |
All bank failures in 1991 · All bank failures in Louisiana · Every failed bank First American Bank and Tru 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.