THE FREEDOM STATE BANK Failed 2014

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

What happened

THE FREEDOM STATE BANK of FREEDOM, OK was closed on 2014-06-27. The FDIC was named receiver.

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

Deposits were transferred to ALVA STATE BANK & TRUST COMPANY (ALVA, OK). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
4069
FDIC Certificate
12483
FDIC FIN
10503
Bank name
THE FREEDOM STATE BANK
Location
FREEDOM, OK
Failure date
2014-06-27
FDIC resolution date
2014-06-27
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.)
$4M
Deposits at failure
$21M
Assets at failure
$23M
Acquiring bank
ALVA STATE BANK & TRUST COMPANY (ALVA, OK)