# FARMERS & MERCHANTS BANK

> **Failed bank** · EUFAULA, OK · failed 1987-07-23 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $4M

## What happened

FARMERS & MERCHANTS BANK of EUFAULA, OK was closed by regulators 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
- **Estimated FDIC DIF cost:** $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 has acquired in FDIC resolutions

- AMERICAN BANK OF MUSKOGEE (MUSKOGEE, OK) — failed 1988-09-01 — /failed-bank/1907

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FARMERS%20%26%20MERCHANTS%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FARMERS & MERCHANTS BANK (FDIC ID 1480), failed 1987-07-23. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/1480.

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