Data / Bank failures / 1989 / Rolling Hills State Bank
Rolling Hills State Bank, Piedmont, OK: failed January 12, 1989
Rolling Hills State Bank in Piedmont, Oklahoma, failed on January 12, 1989. Farmers & Merchants Bank of of Piedmont, OK, took over its deposits. It held $13.2 million in assets and $13.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.8 million (13.4% of its assets). By assets it was the 481st largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- January 12, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Farmers & Merchants Bank of, Piedmont, OK
- Total assets
- $13,212,000
- Total deposits
- $13,099,000
- Estimated cost to the FDIC
- $1,765,614 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 22239
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 Farmers & Merchants Bank of took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Farmers State Bank, Bogue | Bogue | KS | March 16, 1989 | $8 million | $8 million | $1.7 million | Farmers & Merchants Bank of |
All bank failures in 1989 · All bank failures in Oklahoma · Every failed bank Farmers & Merchants Bank of took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.