# FIRST STATE BANK

> **Failed bank** · SEMINOLE, OK · failed 1988-09-29 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $2M

## What happened

FIRST STATE BANK of SEMINOLE, OK was closed by regulators on **1988-09-29**. The FDIC was named receiver.

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

Deposits were transferred to **FIRST STATE BANK** (HARRAH, OK). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1937
- **FDIC Certificate:** 8979
- **FDIC FIN:** 2923
- **Bank name:** FIRST STATE BANK
- **Location:** SEMINOLE, OK
- **Failure date:** 1988-09-29
- **FDIC resolution date:** 1988-09-29
- **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:** $2M
- **Deposits at failure:** $11M
- **Assets at failure:** $12M
- **Acquiring bank:** FIRST STATE BANK (HARRAH, OK)

## Other banks FIRST STATE BANK has acquired in FDIC resolutions

- FARMERS' AND TRADERS' STATE BANK (SHABBONA, IL) — failed 2012-06-08 — /failed-bank/4008
- VALLEY COMMUNITY BANK (ST. CHARLES, IL) — failed 2011-02-25 — /failed-bank/3913
- FIRST NATIONAL BANK OF CEDAR HILL (CEDAR HILL, TX) — failed 1991-05-16 — /failed-bank/3103
- FIRST FSA OF WEWOKA (WEWOKA, OK) — failed 1991-03-08 — /failed-bank/3031
- BANK OF MEEKER (MEEKER, OK) — failed 1990-03-15 — /failed-bank/2698
- CITIZENS BANK AND TRUST (CALVERT, TX) — failed 1989-03-09 — /failed-bank/2172
- THE FIRST NATIONAL BANK OF GRACEMONT (GRACEMONT, OK) — failed 1988-11-10 — /failed-bank/1976
- ROUND ROCK NATIONAL BANK (ROUND ROCK, TX) — failed 1988-10-27 — /failed-bank/1970
- FRONTIER NATIONAL BANK (ROUND ROCK, TX) — failed 1988-10-27 — /failed-bank/1969
- FIRST NATIONAL BANK AUSTIN (AUSTIN, TX) — failed 1988-08-18 — /failed-bank/1860

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST STATE BANK (FDIC ID 1937), failed 1988-09-29. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/1937.

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