Alva State Bank & Trust Company, Alva, Oklahoma, Assumes All of the Deposits of The Freedom State Bank, Freedom, Oklahoma — 2014-06-27

The Freedom State Bank, Freedom, 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 Alva State Bank & Trust Company, Alva, Oklahoma, to assume all of the deposits of The Freedom State Bank. The sole branch of The Freedom State Bank will reopen as a branch of Alva State Bank & Trust Company during its normal business hours. Depositors of The Freedom State Bank will automatically become depositors of Alva State Bank & Trust Company. 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.