Bank failure · OK

First State Bank (Lexington, OK) — failed December 13, 1990

First State Bank of Lexington, Oklahoma was closed on December 13, 1990 and resolved through a purchase and assumption. The McClain County National (OK) took over its insured deposits. At failure it held $7.5M in assets and $7.6M in deposits. The FDIC's estimated loss on the failure is $883K (11.8% of assets).