AMERICAN FEDERAL BANK Failed 1991
What happened
AMERICAN FEDERAL BANK of ADA, OK was closed on 1991-03-22. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to HOME FS&LA OF ADA (ADA, OK). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3051
- FDIC Certificate
- 31648
- FDIC FIN
- 2146
- Bank name
- AMERICAN FEDERAL BANK
- Location
- ADA, OK
- Failure date
- 1991-03-22
- FDIC resolution date
- 1991-11-01
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $45M
- Deposits at failure
- $90M
- Assets at failure
- $110M
- Acquiring bank
- HOME FS&LA OF ADA (ADA, OK)