Bank Failure
Kingfisher FS&LA
BankRegReports is independent of Kingfisher FS&LA and never asks for online banking logins or passwords.
Closed August 31, 1988 · Kingfisher, OK · FDIC Cert #28737.
- Closing date
- August 31, 1988
- Headquarters
- Kingfisher, OK
- FDIC Certificate
- 28737
- Total assets at closing
- $124.4M
- Total deposits at closing
- $127.6M
- Estimated loss to the insurance fund
- $50.3M
- Insurance fund
- Federal Savings and Loan Insurance Corporation (FSLIC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Chisholm
Context
On August 31, 1988, regulators closed Kingfisher FS&LA, headquartered in Kingfisher, OK. At closing, the institution held approximately $124.4M in assets and $127.6M in deposits. The FDIC record names Chisholm as the acquiring institution in the resolution. The estimated cost to the Federal Savings and Loan Insurance Corporation (FSLIC) was approximately $50.3M.
By assets at closing this is the 1067th largest of the 3,526 bank failures in the FDIC record, and the 55th of 232 in 1988. 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 Kingfisher FS&LA fail?
Kingfisher FS&LA was closed by regulators on August 31, 1988.
Who acquired Kingfisher FS&LA?
The FDIC record names Chisholm as the acquiring institution in the resolution of Kingfisher FS&LA.
How big was Kingfisher FS&LA when it failed?
Kingfisher FS&LA had approximately $124.4M in total assets and $127.6M in deposits at the time of failure.
Other failures in 1988
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1988 | First Industrial Bank of Rocky Ford | $12.5M |
| Dec 16, 1988 | First Southwest Bank | $9.8M |
| Dec 15, 1988 | Texas National Bank | $37.7M |
| Dec 15, 1988 | First National Bank in Center | $26.1M |
| Dec 15, 1988 | Crescent City Bank & Trust Company | $24.0M |
| Dec 15, 1988 | Texas Bank of Plano | $15.1M |
| Dec 15, 1988 | First National Bank in Bogata | $13.2M |
| Dec 9, 1988 | Silverado S&LA | $2.32B |
Explore: all failures · OK bank events · 1988 events · events hub