Bank failure · AR

First Security Bank of North Arkansas (Horseshoe, AR) — failed August 27, 1982

First Security Bank of North Arkansas of Horseshoe, Arkansas was closed on August 27, 1982 and resolved through a purchase and assumption. Bank of Melbourne (AR) took over its insured deposits. At failure it held $14.1M in assets and $12.7M in deposits. The FDIC's estimated loss on the failure is $2.6M (18.6% of assets).