# THE PEOPLES BANK

> **Failed bank** · OLIVE HILL, KY · failed 1987-12-03 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $8M

## What happened

THE PEOPLES BANK of OLIVE HILL, KY was closed by regulators on **1987-12-03**. The FDIC was named receiver.

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

Deposits were transferred to **COMMERCIAL BANK OF GRAYS** (GRAYSON, KY). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1564
- **FDIC Certificate:** 8783
- **FDIC FIN:** 2759
- **Bank name:** THE PEOPLES BANK
- **Location:** OLIVE HILL, KY
- **Failure date:** 1987-12-03
- **FDIC resolution date:** 1987-12-03
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $8M
- **Deposits at failure:** $39M
- **Assets at failure:** $41M
- **Acquiring bank:** COMMERCIAL BANK OF GRAYS (GRAYSON, KY)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE PEOPLES BANK (FDIC ID 1564), failed 1987-12-03. Retrieved via AI Analytics 2026-07-11 from https://api.ai-analytics.org/failed-bank/1564.

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