Data / Bank failures / 1990 / The First National Bank of Colbert
The First National Bank of Colbert, Colbert, OK: failed February 8, 1990
The First National Bank of Colbert in Colbert, Oklahoma, failed on February 8, 1990. The Durant Bank & Trust Com of Durant, OK, took over its deposits. It held $17.9 million in assets and $16.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.9 million (21.8% of its assets). By assets it was the 323rd largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- February 8, 1990
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- The Durant Bank & Trust Com, Durant, OK
- Total assets
- $17,910,000
- Total deposits
- $16,539,000
- Estimated cost to the FDIC
- $3,897,233 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 4237
Other bank failures in Oklahoma, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| American Bank of Commerce | Oklahoma City | March 26, 1992 | $13.5 million | $13.8 million | $2.3 million | Rockwell Bank National A |
| Farmers & Merchants Bank | Tryon | March 19, 1992 | $4.3 million | $4.1 million | $939,612 | Union NB of Chandler |
| 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 |
All bank failures in 1990 · 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.