The Graveyard › Banks › 1988
The First National Bank of Gracemont
Gracemont, OK · failed November 10, 1988 · FDIC certificate 4103
The First National Bank of Gracemont of Gracemont, OK failed on November 10, 1988. It opened in 1906, 82 years before. At its last report before that it held $6.6 million in assets and $6.8 million in deposits. The FDIC estimates that the FDIC's insurance fund lost $1.0 million on it.
1984-031988-09
Assets at the end$6.6 millionlast report before November 10, 1988
Deposits at the end$6.8 million
Estimated loss to the fund$1.0 millionFDIC
Equity to assets-4.8%September 30, 1988
Loans not being repaid10.0%noncurrent, September 30, 1988
Return on assets-9.10%a year's rate, September 30, 1988
Staff5full time, September 30, 1988
Also ended in 1988
- American S&LA · Stockton · $30.2 billion in assets · assisted
- First Republicbank-Dallas, N.A. · Dallas, TX · $17.1 billion in assets
- Gibraltar SA · Houston · $6.5 billion in assets · assisted
- United Savings Association of Texas · Houston · $4.6 billion in assets · assisted
- First City, Texas - Houston, NA · Houston · $4.4 billion in assets · assisted
- First Texas Savings Association · Dallas · $3.1 billion 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.