Bank failure · OK

Mustang Community Bank (Mustang, OK) — failed February 18, 1988

Mustang Community Bank of Mustang, Oklahoma was closed on February 18, 1988 and resolved through a purchase and assumption. First National Bank of M (OK) took over its insured deposits. At failure it held $9.4M in assets and $9.6M in deposits. The FDIC's estimated loss on the failure is $3.1M (33.1% of assets).