Bank Failure
The First State Bank
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Closed January 28, 2011 · Camargo, OK · FDIC Cert #2303.
- Closing date
- January 28, 2011
- Headquarters
- Camargo, OK
- FDIC Certificate
- 2303
- Total assets at closing
- $44.5M
- Total deposits at closing
- $41.2M
- Estimated loss to the insurance fund
- $33.6M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bank 7
Context
On January 28, 2011, regulators closed The First State Bank, headquartered in Camargo, OK. At closing, the institution held approximately $44.5M in assets and $41.2M in deposits. The FDIC record names Bank 7 as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $33.6M.
By assets at closing this is the 1737th largest of the 3,526 bank failures in the FDIC record, and the 89th of 92 in 2011. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did The First State Bank fail?
The First State Bank was closed by regulators on January 28, 2011.
Who acquired The First State Bank?
The FDIC record names Bank 7 as the acquiring institution in the resolution of The First State Bank.
How big was The First State Bank when it failed?
The First State Bank had approximately $44.5M in total assets and $41.2M in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
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