THE FIRST STATE BANK Failed 1987
What happened
THE FIRST STATE BANK of WILLOW, OK was closed on 1987-08-20. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to GUARANTEE STATE BANK (MANGUM, OK). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1499
- FDIC Certificate
- 401
- FDIC FIN
- 6898
- Bank name
- THE FIRST STATE BANK
- Location
- WILLOW, OK
- Failure date
- 1987-08-20
- FDIC resolution date
- 1987-08-20
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $1M
- Deposits at failure
- $6M
- Assets at failure
- $7M
- Acquiring bank
- GUARANTEE STATE BANK (MANGUM, OK)