Data / Bank failures / 1992 / Pelican Homestead Sa
Pelican Homestead Sa, Metairie, LA: failed January 31, 1992
Pelican Homestead Sa in Metairie, Louisiana, failed on January 31, 1992. First Commerce Corp. of New Orleans, LA, took over its deposits. It held $1.28 billion in assets and $1.49 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $288.3 million (22.4% of its assets). By assets it was the 20th largest of 181 banks closed or assisted in 1992.
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The FDIC's record
- Closed
- January 31, 1992
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Commerce Corp., New Orleans, LA
- Total assets
- $1,284,313,000
- Total deposits
- $1,489,485,000
- Estimated cost to the FDIC
- $288,287,962 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 29518
Other bank failures in Louisiana, 1990 to 1994
| 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 |
| 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 |
All bank failures in 1992 · All bank failures in Louisiana · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.