The Freedom State Bank - Freedom, OK

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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
518 College Avenue
Alva, OK 73717

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

The Freedom State Bank
1085 Main St
Freedom, OK 73842
Established
as
The Freedom State Bank
Cost to FDIC: $6 million


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