Bank failure · OK

Peoples Fs&la (Ardmore, OK) — failed August 31, 1988

Peoples Fs&la of Ardmore, Oklahoma was closed on August 31, 1988 and resolved through a assisted merger. Red River Fs&la (OK) took over its insured deposits. At failure it held $49.9M in assets and $46.8M in deposits. The FDIC's estimated loss on the failure is $8.1M (16.2% of assets).