The Graveyard › Banks › 1987
Red Oak State Bank
Red Oak, TX · failed July 9, 1987 · FDIC certificate 9972
Red Oak State Bank of Red Oak, TX failed on July 9, 1987. It opened on February 1, 1913, 74 years before. At its last report before that it held $44.4 million in assets and $42.5 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1986, it held $47.0 million. The FDIC estimates that the FDIC's insurance fund lost $6.6 million on it.
1984-031987-03
Assets at the end$44.4 millionlast report before July 9, 1987
Deposits at the end$42.5 million
Estimated loss to the fund$6.6 millionFDIC
Largest in the quarterly reports$47.0 millionJune 30, 1986
Equity to assets3.1%March 31, 1987
Loans not being repaid3.7%noncurrent, March 31, 1987
Return on assets-0.17%a year's rate, March 31, 1987
Staff33full time, March 31, 1987
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.