Bank failure · OK

First State Bank of Altus (Altus, OK) — failed July 31, 2009

First State Bank of Altus of Altus, Oklahoma was closed on July 31, 2009 and resolved through a purchase and assumption. Herring Bank (TX) took over its insured deposits. At failure it held $90.9M in assets and $98.2M in deposits. The FDIC's estimated loss on the failure is $26.0M (28.6% of assets).