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08-03-2009, 02:14 PM
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Curmudgeon
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Join Date: Sep 2007
Location: Pawnee Nation
3,888 posts, read 2,108,204 times
Reputation: 2209
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First State Bank of Altus closed--first in Oklahoma
Regulators Close Five Banks
Quote:
First State Bank of Altus in Oklahoma, was the fifth regional community bank to be shut down Friday. Herring Bank in Amarillo, Texas, has assumed operations of First State Bank of Altus’ branches and acquired its $98.2 million deposits. Herring Bank also purchased $64.4 million of the failed bank’s $103.4 million in assets.
The Oklahoma institution’s closure is expected to cost the FDIC $25.2 million. First State Bank of Altus is the first bank in the state to be shuttered since Oklahoma City’s American Bank of Commerce was closed back in March of 1992.
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