THE FIRST NATIONAL BANK OF GRACEMONT Failed 1988

What happened

THE FIRST NATIONAL BANK OF GRACEMONT of GRACEMONT, OK was closed on 1988-11-10. The FDIC was named receiver.

Resolution: Insured Deposit Transfer — insured deposits transferred to another bank

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

Key facts

FDIC ID

1976

FDIC Certificate

4103

FDIC FIN

5951

Bank name

THE FIRST NATIONAL BANK OF GRACEMONT

Location

GRACEMONT, OK

Failure date

1988-11-10

FDIC resolution date

1988-11-10

Charter type

National commercial bank (OCC-chartered)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$1M

Deposits at failure

$7M

Assets at failure

$7M

Acquiring bank

FIRST STATE BANK (ANADARKO, OK)

Other banks FIRST STATE BANK acquired in FDIC resolutions

• FARMERS' AND TRADERS' STATE BANK (SHABBONA, IL) — failed 2012-06-08
• VALLEY COMMUNITY BANK (ST. CHARLES, IL) — failed 2011-02-25
• FIRST NATIONAL BANK OF CEDAR HILL (CEDAR HILL, TX) — failed 1991-05-16
• FIRST FSA OF WEWOKA (WEWOKA, OK) — failed 1991-03-08
• BANK OF MEEKER (MEEKER, OK) — failed 1990-03-15
• CITIZENS BANK AND TRUST (CALVERT, TX) — failed 1989-03-09
• ROUND ROCK NATIONAL BANK (ROUND ROCK, TX) — failed 1988-10-27
• FRONTIER NATIONAL BANK (ROUND ROCK, TX) — failed 1988-10-27
• FIRST STATE BANK (SEMINOLE, OK) — failed 1988-09-29
• FIRST NATIONAL BANK AUSTIN (AUSTIN, TX) — failed 1988-08-18