AMERICAN EXCHANGE BANK & TRUST CO Failed 1987
What happened
AMERICAN EXCHANGE BANK & TRUST CO of NORMAN, OK was closed on 1987-08-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BANK OF OKLAHOMA NA (TULSA, OK). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1500
- FDIC Certificate
- 19164
- FDIC FIN
- 2720
- Bank name
- AMERICAN EXCHANGE BANK & TRUST CO
- Location
- NORMAN, 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
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $41M
- Deposits at failure
- $96M
- Assets at failure
- $88M
- Acquiring bank
- BANK OF OKLAHOMA NA (TULSA, OK)
Other banks BANK OF OKLAHOMA NA acquired in FDIC resolutions