FARMERS & MERCHANTS BANK Failed 1987
What happened
FARMERS & MERCHANTS BANK of EUFAULA, OK was closed on 1987-07-23. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CITIZENS NB&T OF MUSKOGE (MUSKOGEE, OK). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1480
- FDIC Certificate
- 5993
- FDIC FIN
- 2709
- Bank name
- FARMERS & MERCHANTS BANK
- Location
- EUFAULA, OK
- Failure date
- 1987-07-23
- FDIC resolution date
- 1987-07-23
- 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.)
- $4M
- Deposits at failure
- $14M
- Assets at failure
- $11M
- Acquiring bank
- CITIZENS NB&T OF MUSKOGE (MUSKOGEE, OK)
Other banks CITIZENS NB&T OF MUSKOGE acquired in FDIC resolutions