Bank failure · OK

American Bank of Muskogee (Muskogee, OK) — failed September 1, 1988

American Bank of Muskogee of Muskogee, Oklahoma was closed on September 1, 1988 and resolved through a purchase and assumption. Citizens Nb&t of Muskoge (OK) took over its insured deposits. At failure it held $28.6M in assets and $29.8M in deposits. The FDIC's estimated loss on the failure is $10.8M (37.9% of assets).