Bank failure · OK

First State Bank (Jet, OK) — failed October 18, 1985

First State Bank of Jet, Oklahoma was closed on October 18, 1985 and resolved through a purchase and assumption. Cleo State Bank (OK) took over its insured deposits. At failure it held $12.3M in assets and $11.5M in deposits. The FDIC's estimated loss on the failure is $5.6M (45.5% of assets).