Failed Bank Information for The Freedom State Bank, Freedom, OK
On Friday, June 27, 2014, The Freedom State Bank was closed by the Oklahoma State Banking Department. The FDIC was named Receiver. Alva State Bank & Trust Company, Alva, OK acquired all deposit accounts.
The FDIC as Receiver for The Freedom State Bank, Freedom, OK has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on August 23, 2017 and has made all dividend distributions required by law.
Effective December 1, 2017, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Receivership Status
TERMINATED
Effective Date: December 1, 2017
Publication Date: August 23, 2017
Beware of scams!
Please be advised you will not receive any email notification to claim, unlock or suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.
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: ALVA STATE BANK & TRUST COMPANY
About Alva State Bank & Trust Company
All deposit accounts, including brokered deposits, were transferred to Alva State Bank & Trust Company, Alva, OK ("assuming institution"). Former The Freedom State Bank locations reopened as branches of Alva State Bank & Trust Company.
Your transferred deposits were separately insured from any accounts you may have already had at Alva State Bank & Trust Company for at least six months after the failure of The Freedom State Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Alva State Bank & Trust Company as long as the deposits are not pledged as collateral for loans.
Contacting Alva State Bank & Trust Company
You can contact Alva State Bank & Trust Company:
Alva State Bank & Trust Company
518 College Avenue
Alva, OK 73717
Alva State Bank & Trust Company (www.alvastatebank.com)
Transaction Documentation
Purchase & Assumption Agreement - PDF (13Mb)
Agreement between FDIC and acquiring institution
Bid Summary
Report on the bids to purchase the failed bank