Bank failure · OK

First State Bank (Oilton, OK) — failed February 11, 1988

First State Bank of Oilton, Oklahoma was closed on February 11, 1988 and resolved through a purchase and assumption. American Nb of Bristow (OK) took over its insured deposits. At failure it held $13.2M in assets and $13.3M in deposits. The FDIC's estimated loss on the failure is $3.1M (23.3% of assets).