NORMAN BANK OF COMMERCE Failed 1986
What happened
NORMAN BANK OF COMMERCE of NORMAN, OK was closed on 1986-11-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST INTERSTATE BK OF O (OKLAHOMA CITY, OK). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1309
- FDIC Certificate
- 19098
- FDIC FIN
- 2618
- Bank name
- NORMAN BANK OF COMMERCE
- Location
- NORMAN, OK
- Failure date
- 1986-11-20
- FDIC resolution date
- 1986-11-20
- 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.)
- $12M
- Deposits at failure
- $42M
- Assets at failure
- $44M
- Acquiring bank
- FIRST INTERSTATE BK OF O (OKLAHOMA CITY, OK)
Other banks FIRST INTERSTATE BK OF O acquired in FDIC resolutions