FIRST SOUTHWEST BANK Failed 1988
What happened
FIRST SOUTHWEST BANK of ELDORADO, OK was closed on 1988-12-16. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST STATE BANK&TRUST C (HOLLIS, OK). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2011
- FDIC Certificate
- 15670
- FDIC FIN
- 2947
- Bank name
- FIRST SOUTHWEST BANK
- Location
- ELDORADO, OK
- Failure date
- 1988-12-16
- FDIC resolution date
- 1988-12-16
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $2M
- Deposits at failure
- $10M
- Assets at failure
- $10M
- Acquiring bank
- FIRST STATE BANK&TRUST C (HOLLIS, OK)