Bank failure · OK
Great Plains Savings (Weatherford, OK) — failed October 26, 1989
Great Plains Savings of Weatherford, Oklahoma was closed on October 26, 1989 and resolved through a purchase and assumption. Local Federal Bank, FSB (OK) took over its insured deposits. At failure it held $99.8M in assets and $72.5M in deposits. The FDIC's estimated loss on the failure is $20.0M (20.0% of assets).
- Closing date
- October 26, 1989
- FDIC certificate #
- 28690
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Local Federal Bank, FSB
- Insurance fund
- RTC
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