FIRST NATIONAL BANK OF SAPULPA Failed 1987

What happened

FIRST NATIONAL BANK OF SAPULPA of SAPULPA, OK was closed on 1987-03-05. The FDIC was named receiver.

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

Deposits were transferred to AMERICAN NB&T CO SAPULPA (SAPULPA, OK). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1379

FDIC Certificate

24262

FDIC FIN

2657

Bank name

FIRST NATIONAL BANK OF SAPULPA

Location

SAPULPA, OK

Failure date

1987-03-05

FDIC resolution date

1987-03-05

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$3M

Deposits at failure

$8M

Assets at failure

$7M

Acquiring bank

AMERICAN NB&T CO SAPULPA (SAPULPA, OK)