First Oklahoma temporarily suspended payments.
- Share via
The company said it has temporarily suspended principal and interest payments on more than $130 million of its debt after the recent failure of its main bank unit, First National Bank & Trust of Oklahoma City. First Oklahoma Bancorp said it will assess its financial condition. First National Bank was closed July 14 in the second-largest commercial bank failure in history. First Oklahoma’s new chairman, James Tolbert, said a meeting of creditors will be held Aug. 5 to consider options for the company’s restructuring.
More From the Los Angeles Times
Podcasts
The latest effort is coming from the L.A. County Board of Supervisors. They just announced a $3 million program in conjunction with some nonprofits groups to test and clean the soil at homes still standing in the areas impacted by the Eaton Fire.
California once bet big on offshore wind to help power its clean-energy future, but the Trump administration is now paying developers billions to walk away from their projects. As California’s remaining offshore-wind leases hang in the balance, the state is fighting back in court.
The Hillside Strangler murders terrorized Los Angeles in the late 1970s. The killers were a pair of sadistic cousins. One confessed. The other was set to stand trial—until L.A. prosecutors flinched.
