The Graveyard › Banks › 1988

The First National Bank & Trust Co. of Cushing

Cushing, OK · failed March 10, 1988 · FDIC certificate 4074

The First National Bank & Trust Co. of Cushing of Cushing, OK failed on March 10, 1988. It opened in 1897, 91 years before. At its last report before that it held $60.3 million in assets and $61.2 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1985, it held $90.2 million. The FDIC estimates that the FDIC's insurance fund lost $20.0 million on it.

1984-031987-12

Assets at the end$60.3 millionlast report before March 10, 1988

Deposits at the end$61.2 million

Estimated loss to the fund$20.0 millionFDIC

Largest in the quarterly reports$90.2 millionMarch 31, 1985

Equity to assets-3.9%December 31, 1987

Loans not being repaid29.1%noncurrent, December 31, 1987

Return on assets-5.31%a year's rate, December 31, 1987

Staff33full time, December 31, 1987

On the FDIC's list: THE FIRST NAT BANK & TRUST CO. OF CUSHING.

Could you have seen it coming? Play Black Monday

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.