Bank Failure
FIRST STATE BANK
Closed October 18, 1985 · JET, OK · FDIC Cert #14670.
- Closing date
- October 18, 1985
- Headquarters
- JET, OK
- FDIC Certificate
- 14670
- Total assets at closing
- $12,344,000
- Total deposits at closing
- $11,495,000
- Estimated loss to DIF
- $5,621,000
- Resolution type
- other
- Acquirer
- CLEO STATE BANK (FDIC Cert #2506)
Context
On October 18, 1985, regulators closed FIRST STATE BANK, headquartered in JET, OK. At closing, the institution held approximately $12,344,000 in assets and $11,495,000 in deposits. The FDIC arranged a resolution under which CLEO STATE BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $5,621,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1985
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1985-12-31 | HOME SAVINGS BANK | WHITE PLAINS, NY | $413,948,000 |
| 1985-12-31 | SUN FS&LA | TALAHASSEE, FL | $367,489,000 |
| 1985-12-20 | STATE S&LA OF LUBBOCK | LUBBOCK, TX | $841,612,000 |
| 1985-12-20 | BROWNFIELD S&LA | BROWNFIELD, TX | $64,709,000 |
| 1985-12-20 | FIRST CITY BANK | GLENDALE, CA | $35,813,000 |
| 1985-12-20 | STATE BANK OF FROST | FROST, MN | $7,736,000 |
| 1985-12-19 | PRINCETON STATE BANK | PRINCETON, MO | $18,366,000 |
| 1985-12-19 | FARMERS STATE BANK | SARGENT, NE | $12,474,000 |
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