THE FARMERS NATIONAL BANK OF CORDELL Failed 1987

What happened

THE FARMERS NATIONAL BANK OF CORDELL of CORDELL, OK was closed on 1987-12-03. The FDIC was named receiver.

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

Deposits were transferred to FIRST NB OF WEATHERFORD (WEATHERFORD, OK). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1562

FDIC Certificate

4070

FDIC FIN

2757

Bank name

THE FARMERS NATIONAL BANK OF CORDELL

Location

CORDELL, OK

Failure date

1987-12-03

FDIC resolution date

1987-12-03

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$34M

Deposits at failure

$60M

Assets at failure

$62M

Acquiring bank

FIRST NB OF WEATHERFORD (WEATHERFORD, OK)