FIRST NATIONAL BANK Failed 1990

What happened

FIRST NATIONAL BANK of PURCELL, OK was closed on 1990-07-26. The FDIC was named receiver.

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

Deposits were transferred to MCCLAIN COUNTY NATIONAL BAN (PURCELL, OK). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2856

FDIC Certificate

25605

FDIC FIN

4252

Bank name

FIRST NATIONAL BANK

Location

PURCELL, OK

Failure date

1990-07-26

FDIC resolution date

1990-07-26

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

$11M

Assets at failure

$11M

Acquiring bank

MCCLAIN COUNTY NATIONAL BAN (PURCELL, OK)