THE FIRST NATIONAL BANK OF RUSH SPRINGS Failed 1987

What happened

THE FIRST NATIONAL BANK OF RUSH SPRINGS of RUSH SPRINGS, OK was closed on 1987-01-15. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to FIRST NB OF MAYSVILLE (MAYSVILLE, OK). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1337

FDIC Certificate

4189

FDIC FIN

2634

Bank name

THE FIRST NATIONAL BANK OF RUSH SPRINGS

Location

RUSH SPRINGS, OK

Failure date

1987-01-15

FDIC resolution date

1987-01-15

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$4M

Deposits at failure

$13M

Assets at failure

$13M

Acquiring bank

FIRST NB OF MAYSVILLE (MAYSVILLE, OK)