Data / Bank failures / 1987 / Investors Federal Bank
Investors Federal Bank, El Reno, OK: failed June 18, 1987
Investors Federal Bank in El Reno, Oklahoma, failed on June 18, 1987. Midwest FS&LA of Minneapoli of Minneapolis, MN, took over its deposits. It held $97.5 million in assets and $96.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $60 million (61.6% of its assets). By assets it was the 53rd largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- June 18, 1987
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Midwest FS&LA of Minneapoli, Minneapolis, MN
- Total assets
- $97,509,000
- Total deposits
- $96,314,000
- Estimated cost to the FDIC
- $60,032,990 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- FSLIC
- FDIC certificate
- 29814
Other bank failures in Oklahoma, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| North Side State Bank | Tulsa | December 14, 1989 | $20.4 million | $21.4 million | $4.5 million | Bank of Tulsa |
| City National Bank of Sayre | Sayre | December 13, 1989 | $21 million | $22.4 million | $3.8 million | First State Bank and Trust |
| Sooner Federal Savings Assoc. | Tulsa | November 16, 1989 | $1.53 billion | $1.15 billion | $152.8 million | First Gibraltar Bank, FSB |
| Great Plains Savings | Weatherford | October 26, 1989 | $99.8 million | $72.5 million | $20 million | Local Federal Bank, FSB |
| Park Avenue Bank, National Assoc | Oklahoma City | October 19, 1989 | $17.9 million | $14.4 million | $775,547 | Founders Bank & Trust Compa |
| North Bank, National Association | Oklahoma City | October 12, 1989 | $12.4 million | $12.9 million | $1.1 million | The Liberty National Bank A |
| American Home S & L | Edmond | October 5, 1989 | $96.7 million | $79.5 million | $13.7 million | Founders B&TC |
| Family Savings Bank, FSB | Sapulpa | October 5, 1989 | $50.9 million | $52.8 million | $4.1 million | American NB&T |
Other failed banks Midwest FS&LA of Minneapoli took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| United FS&LA | Durant | OK | June 29, 1987 | $89.8 million | $78.2 million | $46.4 million | Midwest FS&LA of Minneapoli |
| Ramona S&LA | Fillmore | CA | September 12, 1986 | $108.1 million | $96 million | $59.5 million | Midwest FS&LA of Minneapoli |
| Capitol S&LA | Mount Pleasant | IA | February 21, 1986 | $192 million | $180.5 million | $99 million | Midwest FS&LA of Minneapoli |
All bank failures in 1987 · All bank failures in Oklahoma · Every failed bank Midwest FS&LA of Minneapoli 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.