Data / Bank failures / 2009 / First State Bank of Altus
First State Bank of Altus, Altus, OK: failed July 31, 2009
First State Bank of Altus in Altus, Oklahoma, failed on July 31, 2009. Herring Bank of Amarillo, TX, took over its deposits. It held $90.9 million in assets and $98.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $26 million (28.6% of its assets). By assets it was the 125th largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- July 31, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Herring Bank, Amarillo, TX
- Total assets
- $90,867,000
- Total deposits
- $98,161,000
- Estimated cost to the FDIC
- $25,968,652 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 9873
Other bank failures in Oklahoma, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The First National Bank of Davis | Davis | March 11, 2011 | $90.2 million | $68.3 million | $29.8 million | The Pauls Valley Natiional Bank |
| The First State Bank | Camargo | January 28, 2011 | $44.5 million | $41.2 million | $33.6 million | Bank 7 |
| Home National Bank | Blackwell | July 9, 2010 | $585.4 million | $514 million | $65.8 million | RCB Bank |
Other failed banks Herring Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Colorado National Bank | Colorado Springs | CO | March 20, 2009 | $123.5 million | $85.2 million | $12.7 million | Herring Bank |
All bank failures in 2009 · All bank failures in Oklahoma · Every failed bank Herring Bank took over · 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.