Bank Failure
Farmers & Merchants Bank
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Closed March 19, 1992 · Tryon, OK · FDIC Cert #10668.
- Closing date
- March 19, 1992
- Headquarters
- Tryon, OK
- FDIC Certificate
- 10668
- Total assets at closing
- $4.3M
- Total deposits at closing
- $4.1M
- Estimated loss to the insurance fund
- $940K
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Union NB of Chandler
Context
On March 19, 1992, regulators closed Farmers & Merchants Bank, headquartered in Tryon, OK. At closing, the institution held approximately $4.3M in assets and $4.1M in deposits. The FDIC record names Union NB of Chandler as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $940K.
By assets at closing this is the 3018th largest of the 3,526 bank failures in the FDIC record, and the 175th of 179 in 1992. 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 Farmers & Merchants Bank fail?
Farmers & Merchants Bank was closed by regulators on March 19, 1992.
Who acquired Farmers & Merchants Bank?
The FDIC record names Union NB of Chandler as the acquiring institution in the resolution of Farmers & Merchants Bank.
How big was Farmers & Merchants Bank when it failed?
Farmers & Merchants Bank had approximately $4.3M in total assets and $4.1M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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