Bank failure · OK

Phoenix Fs&la (Muskogee, OK) — failed August 31, 1988

Phoenix Fs&la of Muskogee, Oklahoma was closed on August 31, 1988 and resolved through a assisted merger. Cimarron Fs&la (OK) took over its insured deposits. At failure it held $419.4M in assets and $382.7M in deposits. The FDIC's estimated loss on the failure is $142.4M (34.0% of assets).