Fdic Closes Statewide Bank in Covington, Home Bank to Acquire Assets

New Orleans City Business › March 19, 2010

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Summary

Federal regulators have closed Statewide Bank in Covington, marking the first failure of a Louisiana financial institution since 2003.

The Federal Deposit Insurance Corp. announced Friday that all six branches of Statewide will reopen Saturday and offices of Home Bank of Lafayette. The FDIC entered into a loss-share transaction with Home Bank on $163.5 million of Statewide's assets.

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Fdic Closes Statewide Bank in Covington, Home Bank to Acquire Assets

Although federal officials did not provide specific information on the extent of Statewide's problems, the ...

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