Bank failure · OK

First Southwest Bank (Eldorado, OK) — failed December 16, 1988

First Southwest Bank of Eldorado, Oklahoma was closed on December 16, 1988 and resolved through a purchase and assumption. First State Bank&trust C (OK) took over its insured deposits. At failure it held $9.8M in assets and $9.7M in deposits. The FDIC's estimated loss on the failure is $2.4M (24.3% of assets).