THE FIRST NATIONAL BANK OF LUTHER Failed 1987

What happened

THE FIRST NATIONAL BANK OF LUTHER of LUTHER, OK was closed on 1987-08-13. The FDIC was named receiver.

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

Deposits were transferred to FIRST WAGONER BANK&TRUST (WAGONER, OK). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1496

FDIC Certificate

4136

FDIC FIN

2717

Bank name

THE FIRST NATIONAL BANK OF LUTHER

Location

LUTHER, OK

Failure date

1987-08-13

FDIC resolution date

1987-08-13

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$10M

Deposits at failure

$18M

Assets at failure

$17M

Acquiring bank

FIRST WAGONER BANK&TRUST (WAGONER, OK)