Bank failure · AR

Bank of Quitman (Quitman, AR) — failed November 12, 1982

Bank of Quitman of Quitman, Arkansas was closed on November 12, 1982 and resolved through a purchase and assumption. First Nb of Cleburne Cou (AR) took over its insured deposits. At failure it held $17.4M in assets and $16.3M in deposits. The FDIC's estimated loss on the failure is $1.4M (8.1% of assets).