FIRST BANK AND TRUST COMPANY Failed 1989

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

What happened

FIRST BANK AND TRUST COMPANY of YALE, OK was closed on 1989-08-03. The FDIC was named receiver.

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

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

Key facts

FDIC ID
2466
FDIC Certificate
4233
FDIC FIN
4064
Bank name
FIRST BANK AND TRUST COMPANY
Location
YALE, OK
Failure date
1989-08-03
FDIC resolution date
1989-08-03
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.)
$8M
Deposits at failure
$28M
Assets at failure
$28M
Acquiring bank
MANNFORD STATE BANK (MANNFORD, OK)