WASHINGTON (AP) ? Federal regulators have seized a small bank in Oklahoma, bringing to 25 the number of U.S. banks that have failed so far this year.
The Federal Deposit Insurance Corp. said Friday that it closed First Capital Bank in Kingfisher.
The bank, which had one branch, had about $46.1 million in assets and $44.8 million in deposits as of March 31.
F&M Bank in Edmond, Okla., agreed to pay a premium of about 7.7 percent to assume all of First Capital's deposits.
It also agreed to buy about $40.7 million of the failed bank's assets.
The FDIC estimates that failure of First Capital will cost the insurance fund $5.6 million.
The lender is the first FDIC-insured institution to fail this year in Oklahoma.
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