Bank Failure
American State Bank
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Closed October 19, 1984 · Thomas, OK · FDIC Cert #8985.
- Closing date
- October 19, 1984
- Headquarters
- Thomas, OK
- FDIC Certificate
- 8985
- Total assets at closing
- $23.9M
- Total deposits at closing
- $22.2M
- Estimated loss to the insurance fund
- $6.9M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bank of Thomas
Context
On October 19, 1984, regulators closed American State Bank, headquartered in Thomas, OK. At closing, the institution held approximately $23.9M in assets and $22.2M in deposits. The FDIC record names Bank of Thomas as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $6.9M.
By assets at closing this is the 2211th largest of the 3,526 bank failures in the FDIC record, and the 33rd of 83 in 1984. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did American State Bank fail?
American State Bank was closed by regulators on October 19, 1984.
Who acquired American State Bank?
The FDIC record names Bank of Thomas as the acquiring institution in the resolution of American State Bank.
How big was American State Bank when it failed?
American State Bank had approximately $23.9M in total assets and $22.2M in deposits at the time of failure.
Other failures in 1984
| Date | Bank | Assets |
|---|---|---|
| Dec 22, 1984 | First Security Bank | $13.4M |
| Dec 20, 1984 | The Farmers State Bank | $14.6M |
| Dec 18, 1984 | Uehling State Bank | $4.2M |
| Dec 11, 1984 | University Bank of Wichita | $4.7M |
| Dec 7, 1984 | San Marino S&LA | $856.8M |
| Dec 7, 1984 | Farmers State BK of Holyoke | $3.9M |
| Dec 4, 1984 | Golden Spike State Bank | $7.8M |
| Nov 30, 1984 | The Dayton BK & TR Co. | $51.4M |
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