Bank failure · OK

Bank of Newcastle (Newcastle, OK) — failed May 16, 1985

Bank of Newcastle of Newcastle, Oklahoma was closed on May 16, 1985 and resolved through a purchase and assumption. Allied Oklahoma Bank NA (OK) took over its insured deposits. At failure it held $32.6M in assets and $31.2M in deposits. The FDIC's estimated loss on the failure is $11.0M (33.8% of assets).