THE CITIZENS BANK Failed 1987
What happened
THE CITIZENS BANK of DRUMRIGHT, OK was closed on 1987-09-24. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to AMERICAN NB OF BRISTOW (BRISTOW, OK). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1520
- FDIC Certificate
- 425
- FDIC FIN
- 2730
- Bank name
- THE CITIZENS BANK
- Location
- DRUMRIGHT, OK
- Failure date
- 1987-09-24
- FDIC resolution date
- 1987-09-24
- 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.)
- $15M
- Deposits at failure
- $33M
- Assets at failure
- $35M
- Acquiring bank
- AMERICAN NB OF BRISTOW (BRISTOW, OK)
Other banks AMERICAN NB OF BRISTOW acquired in FDIC resolutions