Data / Bank failures / 1989 / The Olla State Bank
The Olla State Bank, Olla, LA: failed October 5, 1989
The Olla State Bank in Olla, Louisiana, failed on October 5, 1989. Jonesville Bank & Trust Com of Jonesville, LA, took over its deposits. It held $23.6 million in assets and $22.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.6 million (15.4% of its assets). By assets it was the 423rd largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- October 5, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Jonesville Bank & Trust Com, Jonesville, LA
- Total assets
- $23,569,000
- Total deposits
- $22,938,000
- Estimated cost to the FDIC
- $3,625,180 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 11787
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 Jonesville Bank & Trust Com took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Lasalle State Bank | Jena | LA | September 7, 1989 | $38.8 million | $37.1 million | $630,676 | Jonesville Bank & Trust Com |
All bank failures in 1989 · All bank failures in Louisiana · Every failed bank Jonesville Bank & Trust Com 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.