# THE FIRST STATE BANK

> **Failed bank** · WILLOW, OK · failed 1987-08-20 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $1M

## What happened

THE FIRST STATE BANK of WILLOW, OK was closed by regulators 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
- **Estimated FDIC DIF cost:** $1M
- **Deposits at failure:** $6M
- **Assets at failure:** $7M
- **Acquiring bank:** GUARANTEE STATE BANK (MANGUM, OK)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=THE%20FIRST%20STATE%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE FIRST STATE BANK (FDIC ID 1499), failed 1987-08-20. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/1499.

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