Bank Failure
The Freedom State Bank
BankRegReports is independent of The Freedom State Bank and never asks for online banking logins or passwords.
Closed June 27, 2014 · Freedom, OK · FDIC Cert #12483.
- Closing date
- June 27, 2014
- Headquarters
- Freedom, OK
- FDIC Certificate
- 12483
- Total assets at closing
- $22.8M
- Total deposits at closing
- $20.9M
- Estimated loss to the insurance fund
- $3.7M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Alva State Bank & Trust Company
Context
On June 27, 2014, regulators closed The Freedom State Bank, headquartered in Freedom, OK. At closing, the institution held approximately $22.8M in assets and $20.9M in deposits. The FDIC record names Alva State Bank & Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $3.7M.
By assets at closing this is the 2241st largest of the 3,526 bank failures in the FDIC record, and the 17th of 18 in 2014. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did The Freedom State Bank fail?
The Freedom State Bank was closed by regulators on June 27, 2014.
Who acquired The Freedom State Bank?
The FDIC record names Alva State Bank & Trust Company as the acquiring institution in the resolution of The Freedom State Bank.
How big was The Freedom State Bank when it failed?
The Freedom State Bank had approximately $22.8M in total assets and $20.9M in deposits at the time of failure.
Other failures in 2014
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 2014 | Northern Star Bank | $18.8M |
| Nov 7, 2014 | Frontier Bank, FSB | $80.7M |
| Oct 24, 2014 | The National Republic Bank of Chicago | $843.1M |
| Oct 17, 2014 | NBRS Financial Bank | $155.4M |
| Jul 25, 2014 | Greenchoice Bank, FSB | $70.3M |
| Jul 18, 2014 | Eastside Commercial Bank | $173.9M |
| Jun 20, 2014 | Valley Bank | $456.4M |
| Jun 20, 2014 | Valley Bank | $81.8M |
Explore: all failures · OK bank events · 2014 events · events hub