The Graveyard › Banks › 1989
The First State Bank
Forgan, OK · failed May 31, 1989 · FDIC certificate 6012
The First State Bank of Forgan, OK failed on May 31, 1989. It opened in 1912, 77 years before. At its last report before that it held $11.7 million in assets and $11.1 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1985, it held $15.0 million. The FDIC estimates that the FDIC's insurance fund lost $364,930 on it.
1984-031989-03
Assets at the end$11.7 millionlast report before May 31, 1989
Deposits at the end$11.1 million
Estimated loss to the fund$364,930FDIC
Largest in the quarterly reports$15.0 millionMarch 31, 1985
Equity to assets1.7%March 31, 1989
Loans not being repaid5.6%noncurrent, March 31, 1989
Return on assets0.00%a year's rate, March 31, 1989
Staff8full time, March 31, 1989
Also ended in 1989
- Gibraltar Savings, FA · Simi Valley, CA · $13.4 billion in assets
- City Savings, FSB · Somerset, NJ · $9.8 billion in assets
- MBank Dallas, National Association · Dallas, TX · $6.6 billion in assets
- Western Savings & Loan · Phoenix, AZ · $5.7 billion in assets
- Lincoln Savings & Loan · Irvine, CA · $4.9 billion in assets
- University Federal Savings · Houston, TX · $4.5 billion in assets
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.