Bank Failure

First State Bank

Name: First State Bank Bank Failure
Start: 1986-01-09
End: 1986-01-09
Location: Cache, OK

Closed January 9, 1986 · Cache, OK · FDIC Cert #8976.

Closing date: January 9, 1986
Headquarters: Cache, OK
FDIC Certificate: 8976
Total assets at closing: $20.7M
Total deposits at closing: $18.9M
Estimated loss to DIF: $4.1M
Resolution: Failure (closed by regulators)
Acquirer: American NB of Lawton

Context

On January 9, 1986, regulators closed First State Bank, headquartered in Cache, OK. At closing, the institution held approximately $20.7M in assets and $18.9M in deposits. The FDIC arranged a resolution under which American NB of Lawton acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $4.1M.

By assets at closing this is the 2309th largest of the 3,524 bank failures in the FDIC record, and the 97th of 162 in 1986. 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 First State Bank fail?

First State Bank was closed by regulators on January 9, 1986.

Who acquired First State Bank?

American NB of Lawton acquired the failed bank's deposits and operations on January 9, 1986 under an FDIC-brokered resolution.

How big was First State Bank when it failed?

First State Bank had approximately $20.7M in total assets and $18.9M in deposits at the time of failure.

Other failures in 1986

Date	Bank	HQ	Assets
Dec 19, 1986	Lakeland State Bank	Pequot Lakes, MN	$49.4M
Dec 19, 1986	Farmers State Bank	Lueders, TX	$9.7M
Dec 18, 1986	First Bank & Trust Co.	Booker, TX	$94.9M
Dec 18, 1986	Landmark National Bank	Denver, CO	$12.9M
Dec 18, 1986	Lago Vista National Bank	Lago Vista, TX	$11.9M
Dec 12, 1986	Guaranty Federal Bank FSB	Casper, WY	$63.8M
Dec 12, 1986	First Savings of America	Orland Park, IL	$47.0M
Dec 9, 1986	The Citizens Bank of Windsor	Windsor, MO	$24.8M

All 1986 events ›

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