Bank failure · KY
The Peoples Bank (Olive Hill, KY) — failed December 3, 1987
The Peoples Bank of Olive Hill, Kentucky was closed on December 3, 1987 and resolved through a purchase and assumption. Commercial Bank of Grays (KY) took over its insured deposits. At failure it held $40.9M in assets and $39.5M in deposits. The FDIC's estimated loss on the failure is $7.6M (18.6% of assets).
- Closing date
- December 3, 1987
- FDIC certificate #
- 8783
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Commercial Bank of Grays
- Insurance fund
- FDIC
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