Share “Kingfisher bank fails; F&M Bank of Edmond...”

Kingfisher bank fails; F&M Bank of Edmond will take over

First Capital Bank of Kingfisher is the first Oklahoma bank to fail this year. It's the first state bank failure since First National Bank of Davis in March 2011.
by Don Mecoy Modified: June 8, 2012 at 7:42 pm •  Published: June 8, 2012

State banking regulators closed First Capital Bank of Kingfisher on Friday, but the bank will reopen Saturday as a branch of F&M Bank of Edmond.

“The bank was closed due to exhaustion of capital funds as a result of significant loan losses,” Oklahoma Banking Commissioner Mick Thompson said in a statement issued by the agency.

F&M Bank agreed to pay a premium of 7.65 percent to assume First Capital's $46.1 million in assets. The Oklahoma Banking Department in an emergency meeting Friday appointed the Federal Deposit Insurance Corp. as receiver of the bank.

First Capital Bank customers may access their money over the weekend by writing checks or using ATM or debit cards, the FDIC said. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

The Kingfisher branch will offer drive-thru service beginning at 8 a.m. Saturday, and the main office will open Monday, the state Banking Department said.

The bank's assets plummeted to $46.1 million on March 31 from $119 million a year earlier. First Capital recorded a net loss of $573,000 in the first three months of this year, compared to a net loss of $126,000 in the same period last year.

Continue reading this story on the...

by Don Mecoy
Business Editor
Business Editor Don Mecoy has covered business news for more than a decade after earlier working on The Oklahoman's city, state and metro news desks, including a stint as city editor. He has won state and regional journalism awards for business,...
+ show more


Customers with questions about the bank closure can call the FDIC toll-free at (800) 591-2845. The phone number will be operational from 9 a.m. to 6 p.m. Saturday and noon to 6 p.m. Sunday.

Trending Now


  1. 1
    Defendant in jailer groping case pleads guilty to lesser charge
  2. 2
    OSU basketball: Cowboys celebrate 20th anniversary of 1995 Final Four team
  3. 3
    Free Coffee at Chick-fil-A for Entire Month of February
  4. 4
    Missy Elliott Will Join Katy Perry's Super Bowl Halftime Show
  5. 5
    Snapchat is premiering its own Web series tomorrow
+ show more