THE FIRST NATIONAL BANK OF SKIATOOK Failed 1987

What happened

THE FIRST NATIONAL BANK OF SKIATOOK of SKIATOOK, 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 AMERICAN EXCHANGE BANK (COLLINSVILLE, OK). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1340

FDIC Certificate

24423

FDIC FIN

2636

Bank name

THE FIRST NATIONAL BANK OF SKIATOOK

Location

SKIATOOK, 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

$14M

Assets at failure

$14M

Acquiring bank

AMERICAN EXCHANGE BANK (COLLINSVILLE, OK)