Bank failure · OK
The First State Bank (Forgan, OK) — failed May 31, 1989
The First State Bank of Forgan, Oklahoma was closed on May 31, 1989 and resolved through a purchase and assumption. The Bank of Beaver City (OK) took over its insured deposits. At failure it held $11.7M in assets and $11.1M in deposits. The FDIC's estimated loss on the failure is $365K (3.1% of assets).
- Closing date
- May 31, 1989
- FDIC certificate #
- 6012
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- The Bank of Beaver City
- Insurance fund
- FDIC
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