PARK AVENUE BANK, NATIONAL ASSOC Failed 1989

What happened

PARK AVENUE BANK, NATIONAL ASSOC of OKLAHOMA CITY, OK was closed on 1989-10-19. The FDIC was named receiver.

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

Deposits were transferred to FOUNDERS BANK & TRUST COMPA (OKLAHOMA CITY, OK). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2530

FDIC Certificate

25698

FDIC FIN

4103

Bank name

PARK AVENUE BANK, NATIONAL ASSOC

Location

OKLAHOMA CITY, OK

Failure date

1989-10-19

FDIC resolution date

1989-10-19

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$1M

Deposits at failure

$14M

Assets at failure

$18M

Acquiring bank

FOUNDERS BANK & TRUST COMPA (OKLAHOMA CITY, OK)