Bank failure · TX
The First National Bank of Olney (Olney, TX) — failed March 12, 1987
The First National Bank of Olney of Olney, Texas was closed on March 12, 1987 and resolved through a purchase and assumption. First National Bank of O (TX) took over its insured deposits. At failure it held $16.7M in assets and $17.3M in deposits. The FDIC's estimated loss on the failure is $2.5M (14.8% of assets).
- Closing date
- March 12, 1987
- FDIC certificate #
- 3372
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First National Bank of O
- Insurance fund
- FDIC
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