Data / Bank failures / 1989 / Great Plains Savings
Great Plains Savings, Weatherford, OK: failed October 26, 1989
Great Plains Savings in Weatherford, Oklahoma, failed on October 26, 1989. Local Federal Bank, FSB of Oklahoma City, OK, took over its deposits. It held $99.8 million in assets and $72.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $20 million (20% of its assets). By assets it was the 220th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- October 26, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Local Federal Bank, FSB, Oklahoma City, OK
- Total assets
- $99,765,000
- Total deposits
- $72,501,000
- Estimated cost to the FDIC
- $19,969,823 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 28690
Other bank failures in Oklahoma, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First National Bank and Trust Co | Blackwell | August 29, 1991 | $33.5 million | $33.8 million | $1.1 million | Central National Bank & Tru |
| Clinton S & La | Clinton | July 19, 1991 | $22.2 million | $21.6 million | $2.4 million | Local Federal Bank, FSB |
| Red River FS & La | Lawton | April 26, 1991 | $422.2 million | $378.3 million | $-441,552 | |
| Chisholm FS & La | Kingfisher | April 19, 1991 | $154.4 million | $147.1 million | $-385,660 | |
| Cimarron Federal Savings | Muskogee | April 19, 1991 | $782 million | $713.9 million | $2 | |
| American Federal Bank | Ada | March 22, 1991 | $110.2 million | $90.4 million | $44.6 million | Home FS&LA of Ada |
| First Fsa of Chickasha | Chickasha | March 22, 1991 | $161.4 million | $153.1 million | $4.3 million | |
| First Fsa of Wewoka | Wewoka | March 8, 1991 | $32.9 million | $27.9 million | $5.2 million | First State Bank |
Other failed banks Local Federal Bank, FSB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Clinton S & La | Clinton | OK | July 19, 1991 | $22.2 million | $21.6 million | $2.4 million | Local Federal Bank, FSB |
All bank failures in 1989 · All bank failures in Oklahoma · Every failed bank Local Federal Bank, FSB 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.