Bank Failure
First State Bank
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Closed March 10, 1977 · Foss, OK · FDIC Cert #415.
- Closing date
- March 10, 1977
- Headquarters
- Foss, OK
- FDIC Certificate
- 415
- Total assets at closing
- $2.0M
- Total deposits at closing
- $1.8M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
Context
On March 10, 1977, regulators closed First State Bank, headquartered in Foss, OK. At closing, the institution held approximately $2.0M in assets and $1.8M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3085th largest of the 3,526 bank failures in the FDIC record, and the 5th of 5 in 1977. It falls in the period the record labels Postwar Stability (1945-1979), a period with 161 failures peaking at 16 in 1976.
Three decades of regulated calm — Reg Q ceilings, geographic branching limits, and high industry profits kept failures rare.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did First State Bank fail?
First State Bank was closed by regulators on March 10, 1977.
How big was First State Bank when it failed?
First State Bank had approximately $2.0M in total assets and $1.8M in deposits at the time of failure.
Other failures in 1977
| Date | Bank | Assets |
|---|---|---|
| Aug 26, 1977 | Donahue Savings Bank | $5.5M |
| Jul 29, 1977 | Republic National Bank of Louisiana | $6.3M |
| May 20, 1977 | First Augusta Bank & Trust Company | $24.2M |
| Mar 28, 1977 | The Monroe Bank and Trust Company | $4.3M |
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