First Progressive Bank
Metairie, LA
$39.4M
total assets, September 30, 1985
$39.4M
total assets, September 30, 1985
First Progressive Bank was a state nonmember bank in Metairie, LA. It failed on Jan 17, 1986, and First Industrial B&T Co took over its deposits. At its last report it held $39.4 million in assets.
Updated Oct 11, 2026 · numbers as of September 30, 1985
This bank failed
- Failed on
- Jan 17, 1986
- Assets
- $39.4M
- Deposits
- $37.9M
- Estimated cost
- $15.6M
- Deposits went to
- First Industrial B&T Co, Metairie, LA
Total assets
$39.4M
+3.7% in a year · 0.0% in a quarter
Deposits
$37.9M
+3.0% in a year · 0.0% in a quarter
Loans
$30.0M
+7.3% in a year · 0.0% in a quarter
Profit so far
-$1.3M
Jan 1 to Sep 30, 1985
Capital ratio
2.67%
+5.43 pts in a year
Return on assets
-4.19%
+1.38 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 1501 Veterans Memorial Boulevard, Metairie, LA, 70005
- County
- Jefferson
- Established
- Aug 9, 1974
- Failed
- Jan 17, 1986
- Employees
- 45
- Id
- b21722
Quarter by quarter
March 31, 1984 to September 30, 1985
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 7
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is First Progressive Bank?
$39.4 million in total assets and $37.9 million in deposits as of September 30, 1985, with assets up 3.7% from a year before. Its loans were $30.0 million.
Is First Progressive Bank profitable?
No: it lost $1.30 million from January 1 to September 30, 1985. Its return on assets was -4.19% a year; about 1% is typical.
When did First Progressive Bank fail?
Jan 17, 1986. First Industrial B&T Co of Metairie, LA took over its deposits. The estimated cost of the failure was $15.6 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.