The FDIC estimates that the cost to the Deposit Insurance Fund will be $70 million. Compared to other alternatives, BancFirst’s acquisition was the least costly resolution for the FDIC's DIF. The Bank of Union is the second FDIC-insured institution to fail in the nation this year, and the first in Oklahoma.
The last FDIC-insured institution closed in the state was First Capital Bank in Kingfisher on June 8, 2012.
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