First Capital Bank Kingfisher Oklahoma


F & M Bank, Edmond, Oklahoma, Assumes All of the Deposits of First Capital Bank, Kingfisher, Oklahoma

First Capital Bank, Kingfisher, Oklahoma, was closed today by the Oklahoma State Banking Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with F & M Bank, Edmond, Oklahoma, to assume all of the deposits of First Capital Bank.

The sole branch of First Capital Bank will reopen on Saturday as a branch of F & M Bank. Depositors of First Capital Bank will automatically become depositors of F & M Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of First Capital Bank should continue to use their existing branch until they receive notice from F & M Bank that it has completed systems changes to allow other F & M Bank branches to process their accounts as well.

This evening and over the weekend, depositors of First Capital Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of March 31, 2012, First Capital Bank had approximately $46.1 million in total assets and $44.8 million in total deposits. F & M Bank will pay the FDIC a premium of 7.65 percent to assume all of the deposits of First Capital Bank. In addition to assuming all of the deposits of the failed bank, F & M Bank agreed to purchase approximately $40.7 million of the failed bank’s assets. The FDIC will retain the remaining assets for later disposition.

Customers with questions about today’s transaction should call the FDIC toll-free at 1-800-591-2845. The phone number will be operational this evening until 9:00 p.m., Central Daylight Time (CDT); on Saturday from 9:00 a.m. to 6:00 p.m., CDT; on Sunday from noon to 6:00 p.m., CDT; on Monday from 8 a.m. to 8 p.m., CDT; and thereafter from 9:00 a.m. to 5:00 p.m., CDT. Interested parties also can visit the FDIC’s Web site at

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $5.6 million. Compared to other alternatives, F & M Bank’s acquisition was the least costly resolution for the FDIC’s DIF. First Capital Bank is the 25th 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 National Bank of Davis, Davis, on March 11, 2011.

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