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Article: NATIONAL BANK OF FREDERICK FAILS; REOPENS AS BRANCH/OF FIRST NATIONAL BANK OF FREDERICK
- Article from:
- THE JOURNAL RECORD
- Article date:
- January 23, 1987
- Author:
CopyrightCopyright (null) The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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National Bank of Frederick, one of two national banks in this
southwestern Oklahoma town of 6,500 people, was declared insolvent
and closed at 3 p.m. Thursday by the U.S. Comptroller of the
Currency.
Frederick's other bank, First National Bank & Trust Co., which
is more than twice the size of the failed bank, agreed to accept the
transfer of the insured deposits of the National Bank of Frederick,
according to Oklahoma Banking Commissioner Robert Y. Empie.
The failed bank's building will reopen today as a branch of the
First National Bank & Trust Co. of Frederick, he said.
The Federal Deposit Insurance Corp., which was named receiver
for the insolvent National Bank of Frederick, ...