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Bank Failures

Failed Bank Information for First State Bank of Altus, Altus, OK

On Friday, July 31, 2009, First State Bank of Altus was closed by the Oklahoma State Banking Department. The FDIC was named Receiver. Herring Bank, Amarillo, TX acquired all deposit accounts.

The FDIC as Receiver for First State Bank of Altus, Altus, OK has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on March 30, 2022 and has made all dividend distributions required by law.

Effective September 1, 2022, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status: TERMINATED

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Notice of Termination

Effective Date: September 1, 2022
Icon for Notice of Intent to Terminate

Notice of Intent to Terminate

Publication Date: March 30, 2022
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Dividend Information

Report on dividends paid
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Press Release

Official press release

Beware of scams!


Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

ACQUIRING INSTITUTION: HERRING BANK

About Herring Bank

All deposit accounts were transferred to Herring Bank, Amarillo, TX ("assuming institution"). Former First State Bank of Altus locations reopened as branches of Herring Bank.

Your transferred deposits were separately insured from any accounts you may have already had at Herring Bank for at least six months after the failure of First State Bank of Altus.

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Herring Bank as long as the deposits are not pledged as collateral for loans.

Contacting Herring Bank

You can contact Herring Bank:

Herring Bank
2201 Civic Cir
Null
Amarillo, TX 79109

Herring Bank (www.herringbank.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF (302 KB)
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

Last Updated: September 14, 2022