Data / Bank failures / 1985 / Bank of Canton
Bank of Canton, Canton, OK: failed October 10, 1985
Bank of Canton in Canton, Oklahoma, failed on October 10, 1985. Community State Bank of Can of Canton, OK, took over its deposits. It held $22.4 million in assets and $20.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $8.6 million (38.2% of its assets). By assets it was the 108th largest of 180 banks closed or assisted in 1985.
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The FDIC's record
- Closed
- October 10, 1985
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Community State Bank of Can, Canton, OK
- Total assets
- $22,438,000
- Total deposits
- $20,609,000
- Estimated cost to the FDIC
- $8,575,751 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 15756
Other bank failures in Oklahoma, 1983 to 1987
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Farmers National Bank of Cordell | Cordell | December 3, 1987 | $62.3 million | $60.3 million | $33.6 million | First NB of Weatherford |
| Republic Bank | Oklahoma City | November 19, 1987 | $49.1 million | $57.3 million | $23 million | First NB in Bartlesville |
| Commercial Bank, N.A. (assistance) | Oklahoma City | October 16, 1987 | $23.4 million | $21.7 million | $4.5 million | Commercial Bank, N.A. |
| United Services Bank | Hartshorne | October 8, 1987 | $15.3 million | $14.2 million | $5.7 million | First NB&T Co of McAlest |
| Citizens Bank of Krebs | Krebs | October 8, 1987 | $14.7 million | $13.8 million | $5.3 million | First NB&T Co of McAlest |
| The Citizens Bank | Drumright | September 24, 1987 | $35.1 million | $33.4 million | $14.6 million | American NB of Bristow |
| Mustang National Bank | Mustang | September 17, 1987 | $12.1 million | $11.5 million | $2.7 million | First National Bank of M |
| The First National Bank of Tipton | Tipton | September 3, 1987 | $8.2 million | $7.2 million | $4.4 million | First National Bank in A |
All bank failures in 1985 · All bank failures in Oklahoma · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.