The Graveyard › Banks › 1987

First State Bank

Blanchard, OK · failed August 13, 1987 · FDIC certificate 2313

First State Bank of Blanchard, OK failed on August 13, 1987. It opened in 1908, 79 years before. At its last report before that it held $23.6 million in assets and $21.9 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1985, it held $26.4 million. The FDIC estimates that the FDIC's insurance fund lost $12.1 million on it.

1984-031987-06

Assets at the end$23.6 millionlast report before August 13, 1987

Deposits at the end$21.9 million

Estimated loss to the fund$12.1 millionFDIC

Largest in the quarterly reports$26.4 millionDecember 31, 1985

Equity to assets6.7%June 30, 1987

Loans not being repaid27.5%noncurrent, June 30, 1987

Return on assets1.16%a year's rate, June 30, 1987

Staff21full time, June 30, 1987

Could you have seen it coming? Play Black Monday

Also ended in 1987

Lyons Federal Trust & Savings · Countryside · $2.3 billion in assets · assisted
Freedom S&LA · Tampa, FL · $1.9 billion in assets
Vernon S&LA · Vernon, TX · $1.3 billion in assets
Syracuse Savings Bank · Syracuse · $1.2 billion in assets · assisted
Independent American SA · Irving, TX · $1.0 billion in assets
First Financial Bank, FSB · New Orleans · $744.9 million in assets · assisted

History, not advice.

Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.