THE FIRST STATE BANK Failed 1989

FORGAN, OK · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

THE FIRST STATE BANK of FORGAN, OK was closed on 1989-05-31. The FDIC was named receiver.

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

Deposits were transferred to THE BANK OF BEAVER CITY (BEAVER, OK). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
2380
FDIC Certificate
6012
FDIC FIN
4024
Bank name
THE FIRST STATE BANK
Location
FORGAN, OK
Failure date
1989-05-31
FDIC resolution date
1989-05-31
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$0M
Deposits at failure
$11M
Assets at failure
$12M
Acquiring bank
THE BANK OF BEAVER CITY (BEAVER, OK)