Bank failure · OK
The First State Bank (Willow, OK) — failed August 20, 1987
The First State Bank of Willow, Oklahoma was closed on August 20, 1987 and resolved through a insured deposit transfer. Guarantee State Bank (OK) took over its insured deposits. At failure it held $6.7M in assets and $6.2M in deposits. The FDIC's estimated loss on the failure is $1.5M (21.8% of assets).
- Closing date
- August 20, 1987
- FDIC certificate #
- 401
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Guarantee State Bank
- Insurance fund
- FDIC
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