MUSTANG COMMUNITY BANK Failed 1988
What happened
MUSTANG COMMUNITY BANK of MUSTANG, OK was closed on 1988-02-18. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST NATIONAL BANK OF M (MOORE, OK). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1630
- FDIC Certificate
- 22920
- FDIC FIN
- 2788
- Bank name
- MUSTANG COMMUNITY BANK
- Location
- MUSTANG, OK
- Failure date
- 1988-02-18
- FDIC resolution date
- 1988-02-18
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $3M
- Deposits at failure
- $10M
- Assets at failure
- $9M
- Acquiring bank
- FIRST NATIONAL BANK OF M (MOORE, OK)
Other banks FIRST NATIONAL BANK OF M acquired in FDIC resolutions