BANK OF THE NORTHWEST Failed 1988

What happened

BANK OF THE NORTHWEST of WOODWARD, 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 BANK OF WOODWARD (WOODWARD, OK). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1979

FDIC Certificate

23192

FDIC FIN

5952

Bank name

BANK OF THE NORTHWEST

Location

WOODWARD, OK

Failure date

1988-11-10

FDIC resolution date

1988-11-10

Charter type

State commercial bank, non-Federal Reserve member (FDIC-supervised)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$5M

Deposits at failure

$18M

Assets at failure

$20M

Acquiring bank

BANK OF WOODWARD (WOODWARD, OK)