Bank failure · OK
The Farmers National Bank of Cordell (Cordell, OK) — failed December 3, 1987
The Farmers National Bank of Cordell of Cordell, Oklahoma was closed on December 3, 1987 and resolved through a purchase and assumption. First Nb of Weatherford (OK) took over its insured deposits. At failure it held $62.3M in assets and $60.3M in deposits. The FDIC's estimated loss on the failure is $33.6M (53.9% of assets).
- Closing date
- December 3, 1987
- FDIC certificate #
- 4070
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Nb of Weatherford
- Insurance fund
- FDIC
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