2014 FDIC Insured Failed Banks |
June 27, 2014: The Freedom State Bank, Freedom, OK was
closed by the Oklahoma State Banking Department.
The Federal Deposit Insurance Corporation was named receiver.
Successor Bank: All deposit accounts, including brokered deposits, have been transferred to Alva State Bank & Trust Company, Alva, OK
Alva State Bank & Trust Company History:
Established in 1919 as
The Freedom State Bank ►
Depositors must establish contact or the successor bank or the FDIC to
reclaim their deposits. ►
Not every depositor in a failed bank will receive notification from the
FDIC, and there are time limits on claims of FDIC-insured bank accounts,
CDs and safe deposit boxes. By law, accounts which go unclaimed for an
extended period may be time barred, and safe deposit boxes can be drilled
and the contents sold at auction. ► Additionally, accounts transferred to
successor institutions may have lower interest rates and can lose
insurance coverage. ► It is important to understand
you may have an account at a failed institution and not know it,
either because you were a depositor at a bank acquired by an institution
that subsequently failed, or if you or a deceased family member are the
beneficial owner of a brokered fiduciary account. ► For assistance tracing and reclaiming a lost bank account, certificate of deposit (CD) or safe deposit box go to: Unclaimed Account Search |
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The Freedom State
Bank 1085 Main St Freedom, OK 73842 |
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Established as The Freedom State Bank |
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Cost to FDIC: $6 million |
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