Bank failure · OK

First State Bank (Seminole, OK) — failed September 29, 1988

First State Bank of Seminole, Oklahoma was closed on September 29, 1988 and resolved through a purchase and assumption. First State Bank (OK) took over its insured deposits. At failure it held $12.2M in assets and $11.3M in deposits. The FDIC's estimated loss on the failure is $1.6M (13.2% of assets).