Oklahoma Bank Fails, Federal Agency Shuts Down
Oklahoma Bank Fails, Federal Agency Shuts Down
The Office of the Comptroller of the Currency closed a Lindsey bank on Friday because of “false and fraudulent bank records” suggesting fraud.
The Office of the Comptroller of the Currency closed a Lindsay bank on Friday due to “false and fraudulent bank records” suggesting fraud. Get the latest interest news by clicking here The agency on Friday appointed the Federal Deposit Insurance Corporation as receiver First National Bank of Lindsey, according to a news release. The OCC reported that the bank was “in an unsafe or unsound condition to transact business” and that the bank's assets were less than its liabilities to creditors and others. As of June 30, the bank reported about $108 million in total assets The FDIC “entered into a purchase and assumption agreement with First Bank & Trust Co.” Duncan to assume insured deposits of failed banks, according to a news release. The bank will accept insured deposits for a 6.67% premium and will also purchase about $20 million in the failed bank's assets, according to the news release. >> Download the KOCO 5 app The FDIC said Lindsey Bank will reopen Monday and deposits will continue to be insured by the FDIC so “customers can have their They are not required to change banking relationships to maintain deposit insurance coverage.” As of June 30, 2024, Lindsay First National Bank reported total assets of $97.5 million. Approximately $7.1 million of deposits exceeded FDIC insurance limits This amount is subject to change upon receipt of additional information from. Customers with accounts over $250,000 should contact the FDIC toll-free at 1-866-314-1744 to set up an appointment to discuss their deposits,” FDIC officials wrote in a news release. . FDIC officials report that the last bank failure in Oklahoma was Freedom State Bank in June 2014. Top Headlines Oklahoma City Store Clerk Found Dead by Customer, Few Details Revealed Butterball Makes Worst Part of Cooking a Thanksgiving Turkey Easier Police: Homicide Detectives Respond to Death Investigation Northwest OKCD Volunteer Death Leaves Oklahoma Fire Station Devastated, Witnesses 'Frenzy' ' described the moment the suspect fled into Quail Spring Mall after a chase
The Office of the Comptroller of the Currency closed a Lindsey bank on Friday because of “false and fraudulent bank records” suggesting fraud.
Get latest news of interest by clicking here.
The agency on Friday appointed the Federal Deposit Insurance Corp. as receiver for First National Bank of Lindsay, according to a news release.
The OCC reported that the bank was “in an unsafe or unsafe condition to transact business” and that the bank's assets were less than its liabilities to creditors and others. As of June 30, the bank reported about $108 million in total assets.
The FDIC “entered into a purchase and assumption agreement with First Bank & Trust Co.” Duncan's failed bank to assume insured deposits, a news release said.
The bank will accept insured deposits for a 6.67% premium and purchase about $20 million of the failed bank's assets, according to the news release.
>> Download the KOCO 5 app
The FDIC said Lindsay Bank will reopen Monday and deposits will continue to be insured by the FDIC so “customers are not required to change their banking relationship to retain their deposit insurance coverage.”
“As of June 30, 2024, First National Bank of Lindsey reported total assets of $107.8 million and total deposits of $97.5 million. Approximately $7.1 million of deposits exceeded FDIC insurance limits; This amount may change as the FDIC receives additional information from customers. Customers with accounts over $250,000 should contact the FDIC toll-free at 1-866-314-1744 to set up an appointment to discuss their deposits,” FDIC officials wrote in a news release.
FDIC officials report that the last bank failure in Oklahoma was Freedom State Bank in June 2014.
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