Bank failure · OK
Farmers & Merchants Bank (Eufaula, OK) — failed July 23, 1987
Farmers & Merchants Bank of Eufaula, Oklahoma was closed on July 23, 1987 and resolved through a purchase and assumption. Citizens Nb&t of Muskoge (OK) took over its insured deposits. At failure it held $11.5M in assets and $13.9M in deposits. The FDIC's estimated loss on the failure is $3.5M (30.8% of assets).
- Closing date
- July 23, 1987
- FDIC certificate #
- 5993
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Citizens Nb&t of Muskoge
- Insurance fund
- FDIC
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