FIRST STATE BANK Failed 1985
What happened
FIRST STATE BANK of JET, OK was closed on 1985-10-18. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CLEO STATE BANK (CLEO SPRINGS, OK). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1086
- FDIC Certificate
- 14670
- FDIC FIN
- 2506
- Bank name
- FIRST STATE BANK
- Location
- JET, OK
- Failure date
- 1985-10-18
- FDIC resolution date
- 1985-10-18
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $6M
- Deposits at failure
- $11M
- Assets at failure
- $12M
- Acquiring bank
- CLEO STATE BANK (CLEO SPRINGS, OK)