Bank failure · OK

First Fs&la (Elk City, OK) — failed August 31, 1988

First Fs&la of Elk City, Oklahoma was closed on August 31, 1988 and resolved through a assisted merger. Red River Fs&la (OK) took over its insured deposits. At failure it held $106.7M in assets and $133.0M in deposits. The FDIC's estimated loss on the failure is $95.0M (89.0% of assets).