Bank failure · OK
The Bank of Red Oak (Red Oak, OK) — failed December 16, 1983
The Bank of Red Oak of Red Oak, Oklahoma was closed on December 16, 1983 and resolved through a purchase and assumption. Farmers State Bank (OK) took over its insured deposits. At failure it held $11.1M in assets and $10.5M in deposits. The FDIC's estimated loss on the failure is $2.8M (25.2% of assets).
- Closing date
- December 16, 1983
- FDIC certificate #
- 431
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Farmers State Bank
- Insurance fund
- FDIC
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