THE MADILL BANK & TRUST COMPANY Failed 1987
What happened
THE MADILL BANK & TRUST COMPANY of MADILL, OK was closed on 1987-03-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST AMERICAN NATIONAL (TISHOMINGO, OK). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1394
- FDIC Certificate
- 4243
- FDIC FIN
- 2666
- Bank name
- THE MADILL BANK & TRUST COMPANY
- Location
- MADILL, OK
- Failure date
- 1987-03-20
- FDIC resolution date
- 1987-03-20
- 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.)
- $11M
- Deposits at failure
- $39M
- Assets at failure
- $40M
- Acquiring bank
- FIRST AMERICAN NATIONAL (TISHOMINGO, OK)